This article presents a view saying that we might actually be better off as a country if we go over the fiscal cliff facing us in January.
I do not know. As an economist I think the tax increases in January will be devastating to a already-slow recovery (the article does not address taxes). I think the spending reductions are crucial, that the article gets right, but I think the structure of the spending cuts is going to be quite wrong.
As to mindset, yes, I think that Congress and the American need a reminder that there are consequences for stupid spending policies and electing politicians that support such policies. It may be good for Americans to see that spending cuts do not lead to a collapse of all they hold dear.
On the other hand, politicians will be able to magnify any harms, real and imagined, for leverage to avoid future spending cuts.
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