Just clocked this on Radio 4

news.sky.com/story/1030572/fiscal-cliff-...a-cuts-holiday-short

May or may not be the beginning of bigger things to come.

It won't amount to much imho.
They have no choice but to up the debt ceiling and apply some new taxes.
The Americans can swallow a hell of a lot more in the way of new taxation than Europeans can because they're taxed lower to begin with.
Lower fuel costs, no VAT, no road tax, no tv licensing blah blah blah.
That said some of them travel further so fuel costs have a big impact but ofc they'll just move closer to jobs as we have already done in the EU.

The republicans will make a song and dance out of it and drag it out until the last minute and pretend like they don't want to go ahead with it but I'm 100% certain it'll end in the inevitable kicking of the can down the road again.

If it was a republican president we'd see the exact same scenario.