Diane Lim Rogers, an economist at the Concord Coalition, a nonpartisan organization that focuses on fiscal issues, says the most likely outcome is an extension that sets the stage for a serious debate over taxes, spending and entitlement programs in 2013.
"The most likely outcome is that we don't go over the cliff when we are scheduled to go over the cliff," she told us in an interview on our weekly video segment, "Fourth & State." "I think the hope would be that we don't kick the can very far down the road. And at the same, as we're kicking the can, we set up a better process to make sure we don't make the same excuses the next time the can lands."
Like us, Rogers is concerned that Republicans are setting the revenue bar too low.