In the first hours of the New Year, Our Leadership enacted a plan to address what had been looming over our heads as the ‘fiscal cliff.’ Yeah, right.
The essential problem of our government is that it spends far more than it takes in, to the point where the stability of the economy is now in question. To address this, the government must tax more and spend less. No, it’s not one or the other: we’re in a deep hole and need to do both. And faced with circumstances that would lead to precisely that outcome, out leadership punted. Yes, there will be some tax increases, and the ‘payroll tax holiday’ is over. But there will be no real spending cuts, at least for now.
Worse, the stage has been set for an ongoing soap opera, with the debt ceiling, the deferred spending cuts, and God knows what else rising periodically out of the ooze and requiring urgent negotiations to forestall disaster.
Can someone tell me how this will create real jobs?