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Emerging 'Fiscal Cliff' Deal Could Push Economy Into Recession

What is going on in Washington these final weeks before the New Year is the kind of fiscal fundamentalism that is making Greece, Italy and Spain economic train wrecks.

With unemployment so high, real wages falling and so many folks working part time for lack of full-time work, the unemployment rate could easily surge into the teens, and no amount of stimulus spending could bring it back.

Clearly, Messrs. Obama and Boehner know a lot about getting elected but on economics they are spread thin. Like the sorcerer's apprentice, they are courting disaster.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.