Sec. Timothy Geithner said the administration is “absolutely” prepared to go over the fiscal cliff if Republicans do not agree to a deal to raise tax rates on income over $250,000.
The administration is not alone in this commitment.
Sen. Patty Murray (D., Wash.) has threatened since the summer to go over the fiscal cliff, claiming that would be preferable to extending the Bush tax rates across the board. She reiterated that threat to a meeting of progressives earlier this week.