It's Not a Fiscal Crisis!

Let's see, if Congress does nothing then the budget deficit will fall by around $600 billion to a bit more than 2 percent of GDP. How is this a "fiscal crisis?" Of course it's not a fiscal crisis.

It is an austerity bomb. If the higher taxes and reduced pace of spending are left in place over the course of the year (not the first 2 weeks in January), then GDP growth will slow and the economy will likely fall back into recession.

Please explain why the NYT still doesn't have this straight afte...