Brent Budowsky

Columnist

The Bush presidency was a disastrous presidency which caused a range catastrophies including the Iraq war, the budget deficit, and the financial crash.

Robert Reich

Chancellor's Professor of Public Policy, University of California at Berkeley; Author, 'Beyond Outrage'

We're still having the wrong discussion. It shouldn't be how to cut the budget deficit. It should be how to bring back good jobs and economic growth. Deficit hawks and government-haters are still framing the debate. That bodes ill for all of us.

Sanjay Sanghoee

Banker, political and business commentator; author of 'Killing Wall Street' (www.killingwallstreet.com)

Once again, it is up to President Obama to take the lead and make the American public aware of all this. Our nation is in a hopeful but tricky place right now and which way we go will depend as much on our confidence in ourselves as in any statistics.

Jim Worth

Author, 'Final Audit'

Republicans have done a lot of damage. Despite this, the American people have been, characteristically, resilient. But we are at the end of our rope and holding the debt ceiling hostage for destructive spending cuts will do nothing to lengthen it.

Bob Burnett

Berkeley writer, retired Silicon Valley executive

A U.S. carbon tax has the support of both environmentalists and business leaders (including Michael Bloomberg, New York Mayor, and Rex Tillerson, ExxonMobil CEO). It would be a rare political twofer that produces massive revenues while lowering emissions of carbon dioxide.

Sanjay Sanghoee

Banker, political and business commentator; author of 'Killing Wall Street' (www.killingwallstreet.com)

It should be obvious from these two extremes that what we really need is a system that is fluid while being disciplined, expansive without being prodigal, and one that employs a carrot along with the stick to move the U.S. back towards economic sanity. The trillion dollar question is: Does such a system exist?

Ed Crego, George Muñoz and Frank Islam

Bloggers on 21st-century citizenship

Congress needs to finish its fiscal work successfully and quickly and then pass legislation that will stimulate job creation and growth and development of the economy for the middle class and the working poor.

Sanjay Sanghoee

Banker, political and business commentator; author of 'Killing Wall Street' (www.killingwallstreet.com)

I don't blame the president for compromising on the fiscal cliff, but the debt ceiling is a whole other matter. Given the severe consequences of a potential default, there is no end to what the GOP might demand.

Ben Ritz

Policy Director for the American University College Democrats

Not only is this new cliff more dangerous, but we're also more likely to go over it.  A deal would have been much more feasible for Fiscal Cliff 1 than Fiscal Cliff 2.

Miles Rapoport

President, Demos

The major question now is, what is the shape of the debate to come? We believe the President and the Democrats' hands are strengthened, not weakened.

Jeffrey Sachs

Director, Earth Institute at Columbia University; Author, 'The Price of Civilization'

The White House and Senate have agreed to make the Bush tax cuts permanent for 99 percent of households, starving the federal government of funds. Even Mitt Romney could never have accomplished for the Republicans what Obama has just done for them. The Democrats in the Senate would have soundly rejected the plan if the Republicans had put it forward. There has been a special absurdity to the entire negotiating process, which has violated every standard of rationality and transparency. And meanwhile, the Federal Government is being dangerously weakened in its capacity to help America address the economic, environmental, and social challenges of the 21st century.

Janet Mason

Author, 'Tea Leaves'

The U.S. Treasury Department has been taking contributions toward the national debt since 1961. The largest single donation, made in 1992, was $3.5 million. Most contributions have been under $100 dollars.

John Arensmeyer

Founder and CEO, Small Business Majority

Getting a bipartisan agreement on the fiscal cliff puts us on the path to a better future and will allow us to focus on finding smart, pragmatic solutions to these other important issues.

Robert Kuttner

Co-founder and co-editor, 'The American Prospect'

Obama wanted to be the president who would change the tone in Washington, meaning a more collaborative relationship with the Republicans. That was not to be. The Republicans would not allow it.

Jeffrey Sachs

Director, Earth Institute at Columbia University; Author, 'The Price of Civilization'

If the deal is reached, the Republicans have won: they have locked in a federal tax system that collects so little total federal revenue that government can afford almost nothing aside from the military, interest payments, retirement programs and health care.

Sanjay Sanghoee

Banker, political and business commentator; author of 'Killing Wall Street' (www.killingwallstreet.com)

If the economy continues to grow, the president's second term will be a victory, period. That means the Republicans actually have to make sure it goes wrong. To accomplish this goal, the Republicans seem to have settled on two angles of attack.