It’s less than four days away from the fiscal cliff. But unlike the recent Mayan prophecy, the cliff will really happen. Tax cuts will expire and discretionary spending will be cut automatically. And of course, we will reach the debt c
eiling sooner rather than later. There are many obvious things wrong with this picture, but not necessarily anything that we have not all been warned about for months. Sure, life will get harder for most income earners but we have been warned. Sure, the stock market will falter but stock prices have reflected the uncertainty for months. They will recover. Whatever happens, all have been warned, and regardless of whether Congress and the Administration step up to the plate and do what’s right for the good of the economy and the taxpayer – or not- the world will still turn.
But what disturbs me beyond the fiscal cliff is the fact that nobody seems to expect that anything meaningful can or will be done about it. Accusations, finger-pointing, and bizarre metaphors permeate any potentially productive discussions. It’s as
if fiscal policy doesn’t matter anymore…and sadly, we the people have come to expect it. Congress and the Administration have thumbed their noses at their responsbilities, yet we continue to vote for them, pay for them, and give them perks and raises. Our representative form of government has shrugged their collective shoulders and said, in the words of Liam Lynch….”Whatever.”