The fiscal cliff is dead. Long live the fiscal cliff!
If you were unsatisfied with the deal struck last week or just miss the D.C. drama, fear not. We’ll be back at the abyss soon.
In March, the so-called sequester budget cuts stand to kick in; appropriations for federal operations will dry up; and the Treasury will run out of ways to pay the bills without raising the debt ceiling. As Congress faces that unholy trinity, Georgia’s Johnny Isakson will be right in the thick of things.
The second-term GOP senator was named Thursday to the Senate Finance Committee, which handles those big budgetary matters. Having to face those three pressures at once actually gives Isakson “some degree of optimism.”
“Because it is such a confluence of things, maybe we’ll get a macro deal instead of a micro deal,” Isakson said by phone Thursday.
Isakson has yet to attend his first meeting as a Finance member, but he knows where he wants the debate to go. “I think the revenue issue has been dealt