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The “Fiscal Cliff”—Step on the gas?

November 16, 2012


Let’s drive off the fiscal cliff. This is a rare opportunity to cut federal government spending. I know it also means a tax increase but it is much harder to cut spending than to cut taxes so let’s take this opportunity to cut spending and then work on reversing the tax increase at a later date.

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  1. As I understand it, the spending cuts do not touch entitlements, which, I believe, along with interest on the debt, is the real problem. The cuts supposedly just gut the military & other departments. A lot of democrats might like that (i.e., big defense cuts + increased tax revenue across-the-board), but I wonder if it might not be disastrous for many – and the economy. Who knows? I am sure the politicos will kick it all down the road to be resolved another time anyway.


  2. Mike Ruddell permalink

    I fully agree. Sometimes I think we have to hit bottom realize just what we have done (or our so-called representatives on both sides of the aisle).


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