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Saturday, October 27, 2012

You, me, America and the Congressional "fiscal cliff"



Yes, our own US Congress created this "fiscal cliff" and now they're bringing us closer and closer to it. They created it and they're the only ones who can bring us away from it.

How's that for irony?

And hypocrisy?

Want to know what "uncertainty" is responsible for a lack of growth in our economy? Look no further, this is it. This from the Wall Street Journal yesterday:

Firms Hit Brakes Before Fiscal Cliff

Here is why dozens of chief executives have inserted themselves into the debate over reducing the federal budget deficit: Some say uncertainty over the looming "fiscal cliff" of tax increases and spending cuts already is hurting their business.

Here is why dozens of chief executives have inserted themselves into the debate over reducing the federal budget deficit: Some say uncertainty over the looming "fiscal cliff" of tax increases and spending cuts already is hurting their business.

The "fiscal cliff" is shorthand for the double whammy set to take place at the end of the year. That is when spending cuts enacted to end a 2011 standoff over the U.S. debt ceiling are to take effect. At the same time, tax cuts first passed under George W. Bush will expire.

The spending cuts were designed to be so unpopular that they would prompt Congress to adopt a more sophisticated deficit-cutting plan. So far, that hasn't worked and officials of both parties don't expect serious talks until after the Nov. 6 election, which will go a long way to determining the course of negotiations.

The urgency of the situation was underscored Thursday when chief executives of more than 80 big U.S. corporations released a statement urging Congress to reduce the federal deficit with tax-revenue increases as well as spending cuts...

...There is no doubt most companies would suffer if the U.S. goes over the cliff. Economists say the tax increases and spending cuts would slow economic growth, and could push the U.S. back into recession.


Email your representative in the House. Email your senators. Let them know this is completely, totally and utterly unacceptable and that they need to get back to work. They need to get back to Washington and they need to compromise on this most-important of issues right now.

To close, a side note to our Representatives and Senators--get back to work, you slugs.

Link: http://online.wsj.com/article/SB10001424052970203400604578074920349130776.html

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