Mirage mediation reduces the fine-tuning in the minimal supersymmetric standard model by dynamically arranging a cancellation between anomaly-mediated and modulus-mediated supersymmetry breaking. We explore the conditions under which a mirage "messenger scale" is generated near the weak scale and the little hierarchy problem is solved. We do this by explicitly including the dynamics of the SUSY-breaking sector needed to cancel the cosmological constant. The most plausible scenario for generating a low mirage scale does not readily admit an extra-dimensional interpretation. We also review the possibilities for solving the µ/Bµ problem in such theories, a potential hidden source of fine-tuning.Keywords: Supersymmetry Breaking, Supersymmetric Standard Model, Supergravity Models. model (MSSM) is realized in nature has been eroded by the so-called "little hierarchy problem". In the MSSM, the little hierarchy appears as a tension between the two different roles played by the stop squark: on the one hand, the stop should be light to cut off the quadratic divergence in the Higgs boson (mass) 2 and thus minimize fine-tuning; on the other hand, the stop should be heavy enough to generate a physical mass for the Higgs boson above the LEP II bounds. This tension is exacerbated by renormalization group (RG) flow which tends to drive colored particles heavier than electroweak particles. The LEP II bound on charginos, along with the assumption of universal gaugino masses, generically ensures that the stop is quite heavy, requiring fine-tuning at the percent level to achieve successful electroweak symmetry breaking.One potential way to reduce the level of fine-tuning is to have a compressed SUSY spectrum at low scales. Any mechanism yielding such a spectrum while simultaneously evading the bound on the Higgs boson mass merits study. Mirage mediation [1, 2], based on the investigations of [3,4], claims to be such a mechanism. In mirage mediation, a cancellation between modulus mediation [5, 6] and anomaly mediation [7, 8] creates a distinctive low energy SUSY spectrum that appears to unify at a mirage "messenger scale" M mess M GUT . Because this cancellation occurs at every RG scale, there is no hidden fine-tuning between the modulus-and anomaly-mediated contributions [9]. In addition, mirage mediation generically yields large trilinear A terms which generate a large enough physical Higgs mass. Since the leading correction to the Higgs (mass) 2 goes like ∆m 2 Hu = − 3y 2 t 4π 2 m 2 t ln M mess mt , (1.1) the level of fine-tuning can be reduced if M mess is close to the weak scale.