This is what Washington [D.C.] now calls a crisis: completely predictable arithmetic, compounded over a decade by a consistent refusal to acknowledge reality. The fiscal cliff has been clearly visible in the distance for years. The reason we’re talking about it now is that, right on schedule, it’s finally become too big to ignore.

— Bloomberg Businessweek writer Brendan Greeley, describing the Bush tax cuts of 2001 and 2003, which have greatly added to the federal debt.