Why we should go over the Fiscal Cliff

Numerous readers of our company's advisers commentary have emailed and asked me a personal question:  “What would YOU like to see happen with the fiscal cliff?” We thank you for the question.

Please remember, this missive will not be about what is going to happen. We do not know that outcome and neither does anyone else. We hold an opinion that there is a deal coming. We think it will be at the 11th hour or even early next year after we tumble over the Jan. 1 cliff. But that is just an informed guess. President Obama didn't add much clarity to that view in his Dec. 4 Bloomberg interview. Readers may see it and hear it on Bloomberg.com.

Instead, today's letter is about what we would like to see happen, and why. My view is simple: until we experience the cliff, we will not understand what it really means. Hence, we will not act wisely if we do it prospectively.