In response to:

About That Fiscal Cliff

Corbett_ Wrote: Nov 21, 2012 11:41 AM
The 110 billion is not the real fiscal cliff. It is what has the people in DC worried, because they hate the idea of even cutting government growth rates. But the real fiscal cliff will be the tax increase. Even Obama said it was insane to raise taxes during a recession. The tax hike will cause unemployment to jump and revenues will go down. It will act as a further drag on our economy and push us deeper into depression. So deep that even Washington will have to sit up and take notice.
Yikes, we're headed toward a fiscal cliff! It will crush the economy! Or so the media and politicians tell us.

The "cliff" is a series of tax increases and budget cuts that automatically go into effect Jan. 1 unless Congress acts.

Will Congress act?

It will! I see the future: The politicians will meet and fret and hold press conferences and predict disaster. Then they'll reach a deal.

It will just postpone the reckoning, but they'll congratulate themselves, and the media will move on.

America, however, continues to go broke.

"They're not going to admit that we're bankrupt, and they won't...