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Wednesday, December 5, 2012

Fiscal Cliff: What Me Worry?

Wednesday December 5: The country is facing across-the-board tax increases and potentially dangerous defense spending cuts, effective 1/1/13 unless Congress passes budget legislation this month. Everybody acknowledges this has to be done more carefully to avoid damaging an already frail economy. Barry has taken another bus tour to remind everybody that his 5% solution is to tax the rich, and Harry Reid agrees. Harry runs the Senate, and has run the Senate without a budget for the last 4 years. There are 26 days remaining before the "fiscal cliff" is reached and automatic tax increases/budget cuts are triggered.

What's the latest move by Congress? They're leaving town for a long weekend.

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