jeffrey cleveland senior economist. and doug cote, chief market strategist with ing investment management. i will start with you, sir, doing, sure looks like investors believe we'll get a deal. what do you think? >> i don't think it matters. really what i'm focused on i know what the budget control act of 2011 is. let's call it what it is. it is a loss. why will there be tinkering in the last few days? as a strategist i will not be able to discount what they're doing. i think they just make it worse. i know what i'm getting. they're balanced on increasing taxes. i don't like increasing taxes. i like pro-growth economics but we need to cut spending. right now the law does it. i think go over the cliff. we know exactly what is going on. i'm concerned about a lot more things around the globe, particularly corporate earnings than i am the fiscal cliff. adam: all right. jeffrey cleveland, you're an economist, which is worse, raising taxes doing austerity all at once? what you do i this? >> i think the biggest problem is the