Grab the Bromo-Seltzer & Buckle Up: Cramer
"I just came back from Washington. I have good news and bad news,' Cramer said..
"The good news? They all want to rise above. The bad news? The Republicans want to rise above tax increases and the Democrats want to rise above spending cuts."
Read More: Rise Above - America's Looming Fiscal Crisis
After spending the day in the nation's capital and talking with the lawmakers at the very center of the 'fiscal cliff' controversy – the Mad Money host suggested buckling your proverbial seat belt.
He thinks the nation is going over the 'fiscal cliff' - that is he thinks lawmakers will not reach a compromise to stave off the austere spending cuts and tax increases scheduled to take effect in January.
"The situation in Washington is discouraging," he said. "One after another of the Republicans I talked to were totally on message." That is, they attacked the President and his unwillingness to extend tax cuts to the rich. But they didn't offer any compromises
And Cramer added the Democrats weren't any better. "The Dems just want to talk about raising some revenues from the rich, which, obviously isn't nearly as important as the entitlement issue." Again no talk of compromise.
Ironically, Cramer also thinks if lawmakers did compromise and find common ground – – they'd all look like heroes.
"Honestly if there were higher taxes and lower spending and we cut the deficit we would be on top of the world and our stock markets would soar and the housing market would come back and wealth creation would be beyond Washington's wildest dreams," Cramer said.
"But instead, we have to take a page from Dr. Strangelove, one of my favorite movies of all time and we have to learn to stop worrying and love the fiscal cliff because Congress seems determined to take of us there."
However, once we go over the cliff, Cramer does expect to see at least some attempts to hoist the nation from the abyss.
At that point Cramer believes Republicans will pass legislation that extends the Bush tax cuts to 98% of Americans – that way they can say they rolled back taxes.
What's the bottom line?
If you're an investor grab some Bromo-Seltzer. "I believe that we're going over the cliff."
"Please, please, ask yourself if you can handle the uncertainty introduced by Washington into your portfolio. If you can't, no one can blame you for selling."
Read More: Cramer's Plays on Housing Rebound
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