Both Parties Vulnerable in Cliff Negotiations

Americans believe going off the cliff will harm both the country and their personal finances. They also believe that there should be compromise to reach an agreement.

There are differences in party perspective, but, in general, a majority of partisans agree the fiscal cliff will have harmful effects and that it should be avoided through compromise.

Other polls show the Democrats have considerable advantage in the negotiations due to the public’s strong support for raising taxes on the rich (61% of Republicans support, NBC/WSJ poll, Dec. 2012) and the general support of the President’s position in the negotiations.

Republicans suffer both from some of their core members believing there is too much compromise and many others believing there’s not enough.

Democrats are not seen as willing as Republicans to reduce spending or entitlements, and most of the options are not popular.  Still, the public wants a solution and believes that compromise is the path to get it.

If there is failure to reach an agreement, which results in significant tax increases, spending cuts and possibly a recession, President Obama will be damaged as much as Congress – it will launch his second term with a major failure and frame the next two years as a bitter stalemate.

See ABC News:  Obama holds most cards in cliff talks, but with no mandate – and risks aplenty