We don’t yet know whether there will be a grand bargain to avoid tumbling over the fiscal cliff. We don’t know if we will head into another recession. However, if you are a betting person, I would wager the following will occur:
1. Nothing will happen in the next two weeks. (Next to spending money, procrastination is what Congress does best.)
2. Christmas vacation plans will be disrupted for disgruntled lawmakers.
3. Whatever the fiscal cliff deal is, the Club for Growth will oppose it.
4. Democrats will accuse the speaker of the House of being a hostage to the tea party.
5. Sen. Mike Lee (R-Utah) will vote against whatever deal is reached.
6. Defense Secretary Leon Panetta will go mute on sequestration.
7. Ambassador to the United Nations Susan Rice will not become the next secretary of State.
8. Republicans and Democrats will notice that the Simpson-Bowles debt reduction proposal is looking pretty good.
9. President Obama will not offer Mitt Romney gainful employment.
10. In a wave of George Bush nostalgia, many will recall that those Barney Christmas videos were darn cute.