This article is posted for the independents and liberals who have an open mind and a positive outlook.
There’s little reason for anyone to lose sleep over the much-hyped fiscal cliff. In fact, if you were choosing an image based on the coming fiscal dust-up, it probably wouldn’t be a cliff but an obstacle course — a series of federal spending cuts and tax increases all scheduled to take effect as 2013 begins. And it’s true that, if all those budget cuts and tax increases were to go into effect at the same time, an already weak recovery would probably sink into a double-dip recession.
But ignore the sound and fury. While prophecy is usually a perilous occupation, in this case it’s pretty easy to predict how lawmakers will deal with nearly every challenge on the president’s and Congress’s end-of-year obstacle course. The upshot? The U.S. economy isn’t headed over a cliff any time soon.
Raees wrote: This article is posted for the independents and liberals who have an open mind and a positive outlook.
There’s little reason for anyone to lose sleep over the much-hyped fiscal cliff. In fact, if you were choosing an image based on the coming fiscal dust-up, it probably wouldn’t be a cliff but an obstacle course — a series of federal spending cuts and tax increases all scheduled to take effect as 2013 begins. And it’s true that, if all those budget cuts and tax increases were to go into effect at the same time, an already weak recovery would probably sink into a double-dip recession.
But ignore the sound and fury. While prophecy is usually a perilous occupation, in this case it’s pretty easy to predict how lawmakers will deal with nearly every challenge on the president’s and Congress’s end-of-year obstacle course. The upshot? The U.S. economy isn’t headed over a cliff any time soon.
"THE STOCK MARKET IS PLUMMETING AMID FEARS OF THE LOOMING FISCAL CLIFF!!!!!!!!!!!!!!!!!" and thats all they talked about on my 2 hour drive home. I thought it was the end of the world and wondered why I hadn't even heard about it before. :rofl
Bill Moyers is just preparing the public. Obama and the Dems want this and sequestration to happen. They learned last week that blaming Bush and the do nothing House works.
Thomas Sowell: There are no solutions, just trade-offs.
