Mr Obama has cut short his family holiday in Hawaii, to return to the cold and the corridors of power in Washington. The corridors are empty, with most people on holiday. In this day and age, everything can be arranged by teleconference, I suppose, but Mr Obama wants to see some number crunching on the computers, to ensure the fiscal cliff is resolved with no loss to millions of Americans. The clock is ticking, and come midnight 31st December, the path will automatically become chosen - a deal and continuation of Recovery and necessary comfort for millions of Americans; or no deal, and thanks mainly to the Republicans, an America that faces the prospect of a recession just after pulling out of the longest recession in recent times.
Fed Chief Ben Bernanke's elegant solution is to have no spending cuts and no tax hikes, essentially a continuation of the status quo (but with money running out in the budget, some tax increases especially at the upper end may be necessary).
I have suggested that a debt ceiling raise of a Trillion dollars (with twelve zeros) will be necessary and prudent. In the current global context, it will be a God-send, and would ensure the necessary Recovery in the U.S. as well as improvements worldwide. The U.S. always takes a leading role, and a lot of jobs in the emerging economies depend on U.S. prosperity.
The Trillion dollars would create eight million jobs, at an average cost of 125,000 per job; but ranging in scale between plenty of jobs of $30K upwards to $250K, jobs for workers, middle management and management, a hierarchy that will ensure smooth execution of plans and create growth. 500,000 jobs a month would put a smile on peoples' faces, and see a return to prosperity. It would create enough wealth to feed many people and render an excess to start reducing the debt burden. I believe such a thing is possible. I believe they will verify such figures, and shall see that it is so. All that remains is for the Republicans to be magnanimous and extend their co-operation in having a deal that will save the day.
As God replenishes the earth and gives humanity everything we quantify as wealth, may He also give people the generosity of heart to know that in the good of the many is the good of all.