Chart of the Day
Posted at 1:30 p.m. on Nov. 7, 2012
– With little change in the makeup of Congress, FT Alphaville provides this chart showing the historical trends in party polarization as the nation prepares to deal with the fiscal cliff.
From Citi’s Tina Fordham and Mark Schofield: “Policymakers are concerned less about winning than avoiding losing. Going over the cliff for a short period in January may allow both Republicans and Democrats to avoid the toughest of votes, and it’s an option that has been discussed widely, both by us and by others. While not necessarily our base-case scenario, we caution investors to be aware.”