The answer to that depends on what is going on with Republicans. Everyone seems to think that Republicans will eventually cave under public and perhaps corporate pressure on the issues of tax rates and the debt ceiling. I'm hoping that their refusal to offer anything serious at this point is just posturing by Boehner to make his caucus think he did everything possible to prevent tax rates from going up but eventually he'll cave (either at the very last minute this year or early next year). If we assume that Republicans won't be able to withstand public pressure forever and will eventually pass middle class tax cuts, Democrats certainly have leverage now and even more leverage if this goes past the end of the year. I still think the most likely scenario on the "Fiscal Cliff" is that Republicans cave at the last second this year or early next year. But what's worrying me is the alternative. What if Republicans simply will not cave? Politically, they're already taking a hit on this and that hasn't swayed them one bit so far. Who says that any amount of public pressure will change enough minds in the GOP to either make leadership bring a vote on middle class tax cuts to the floor or for enough Republicans to sign a Discharge Position? My alternative theory, and the one that could be disastrous for this country and the world, is that Republicans will decide that hurting Obama's legacy is more important that even getting reelected in 2014 (they probably assume they're safe no matter what thanks to gerrymandering and an off-year election)? In March, we could face fiscal Armageddon if the debt ceiling isn't raised and if another temporary budget resolution isn't passed to keep the Federal government running. I think we need to start planning for a worst case scenario where Republicans hold everything hostage unless the rich get a tax break and Social Security and Medicare get cuts. The economic hit from going over the "cliff" coupled with the U.S. defaulting on our debt AND a government shut-down would lead to a global depression. I'd like to believe that Republicans aren't that crazy but nothing they have done lately assures me of that. They're only beholden to the super rich who would most likely benefit from a global depression as it would mean more government bailouts for banks and lower wages for workers. I see a kind of doomsday scenario for the President and Democrats if Republicans simply say "NO!" to everything unless they get their way.