On October 22, 2012, Deepak Bhargava writes in The Nation print edition:
Immediately after the election, we will face one of the most important social policy debates of our generation. Before the end of this year, President Obama and Congress must confront the so-called fiscal cliff—the deep automatic cuts in defense and domestic spending that have been mandated by the last debt deal unless a new budget framework can be reached. This discussion of mounting debts and deficits will take place as the Bush tax cuts are scheduled to expire, setting the stage for a clash of ideologies from which the victor will enjoy the spoils for years to come. Winning the elections does not guarantee a progressive outcome to this debate—far from it—but losing certainly means that the dark politics of austerity will dominate the country, resulting in misery on a scale we can’t now imagine.