Crying wolf one too many times? A long, long time ago the United States Congress had to deal with what was referred to as a “Fiscal Cliff.” If we went over the cliff, it would be disastrous for the United States and the world. To solve the problem, Congress changed the rules. What makes you think the congress-critters won’t just change the rules again when it comes to the sequester cuts?
Failure was not an option. The Fiscal Cliff senario was set up by Congress to force Congress to deal with the serious policy and financial issues facing the federal government. They created a worst-case-senario that would punish everyone with higher taxes across the board and major federal spending cuts. In a 24 hour period, Congress looked back a the agreement made in August 2011, and simply said “never mind.”
It’s a bit long, but getting great reviews. From yesterday afternoon, prior to the Senate deal after midnight this morning.
Click here for the full text of the Senate’s fiscal cliff non-solution.
Overnight the Senate approved legislation to avoid the fiscal cliff crisis … at least that’s what you’ll hear from the mainstream media as the country looks to the House to push the legislation through this afternoon. The thing is, the entire fiscal cliff senario set up by Congress was designed to force them to deal with the issue … yet last night the Senate congratulated themselves for postponing the entire issue again.
The “fiscal cliff”, a phrase that I believe was coined by Fed Chairman, Ben Bernanke, is rapidly approaching. Most American’s probably have no idea what it is, but, they view it with fear and trepidation because the main stream media tells them to do so. Read more