MRCTV’s Joe Schoffstall caught up with Peter Schiff, CEO and chief global strategist of Euro Pacific Capital, Inc.,at AFP’s Defending the American Dream Summit in Washington, D.C. and asked him why he believes liberals in Congress are willing to take America off the ‘fiscal cliff’, in which they have threatened to do.

Schiff says politicians don’t want to deal with the short-term political consequences and because of this we’re going to go over the actual fiscal cliff. He believes once we hit this point it will make 2008 look like a walk in the park. He then goes on to explain why he believes this and offers some solutions.