Mr. Sensitive

August 23, 2012

At Least They’re Not Calling It ‘Fiscal Cliffgate’

Filed under: Uncategorized — lbej @ 12:18

I am sick of this hyperventilation in the financial press about the so-called fiscal cliff.  At the end of this year, hundreds of billions of dollars of automatic tax increases (reversions to prior rates, really) and federal spending reductions will hit the economy at once, potentially reducing 2013 GDP by as much as five percent…unless Congress and the President agree on a solution.  This has led to endless pontificating from Republicans and Democrats alike about putting electoral success ahead of constituents’ welfare (say it ain’t so!), and the generally contemptible refusal of all these elected officials to do the work they were elected to do until after the next election.  To which I say: shut your stupid mouths.  These folks came to Washington for a number of reasons, most of them dubious, but the number one objective each Congressman has—from the moment he or she wins an election—is to win the next election.  That’s it.  So if you think our august legislators will jeopardize their poll positions by actually doing anything between now and November, you’re kidding yourself.  They don’t absolutely have to act now, so they absolutely won’t.  We’re not going to fall off the fiscal cliff next year any more than we were going to default on our debt last year.  We’re not going to fall of the fiscal cliff next year any more than we’re going to actually reform Social Security or Medicare in any meaningful way, no matter who wins the White House.  Congress will kick the can when it has to be kicked.  If there’s anything they know how to do—besides run for re-election—that’s it.

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