Fiscal cliff

079 Capitol Hill United States Congress 1993

079 Capitol Hill United States Congress 1993 (Photo credit: David Holt London)

Be not afraid. The fiscal cliff is a not a cliff; it is more a fiscal bump in the road. Do not let the economic ignorance of some or the hidden agenda of others (mostly GOP and the 1%) dampen your holiday season. Large numbers will be bandied around to scare the unwary. $1 trillion dollars over 10 years is only $8.3 billion per month or $275 million per daily. Certainly not to be sneezed at, but only a small portion of the total Federal budget.

January 1, 2013, is the date the effects of the fiscal cliff are to begin. However, any laws that Congress passes and the President signs can be back dated to January 1 no matter when agreement is finally reached, whether that is in January, February, March or later. Enjoy President Obama’s re-election and the holidays and ignore gloomy pundits on the tube. Harry Reid intends to reform the filibuster in the Senate, and the TEA Party in the House is reduced in number.

 

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