Editor's note: Pete Davis is president of Davis Capital Investment Ideas. He worked for Democrats and Republicans on Capitol Hill, serving as an economist for the Joint Committee on Taxation and the Senate Budget Committee.
Washington (CNNMoney) - Despite what the optimists say, it's too early to count on a fiscal cliff deal.
Senior staffers have been trying to set the broad outlines of a compromise - dollar amounts of revenue increases and spending cuts.
There will be no deal.
They will kick the can down the road, til February, and then sequestration will take place.