The people are being told the country will go over the "Cliff" if congress does not reach an agreement on such matters by the end of the year. However, no "Financial Cliff" exist because cuts will not happen over night, not even in defense spending as some are talking about, but will go into effect over a period of time.
Part of the "Cliff" is the extension of the tax cuts. The senate acted in a responsible way when it voted to extend the cuts to those making $250,000.00 a year or less and let the rest expire. The U.S. house voted otherwise and not do anything to help President Obama or the country. If the President can not get an agreement on the senate vote before the tax expires then he should just let it expire. It was the republican controlled congress that put an expiration date on it in the first place so let them bear the burden if they fail to extend the cuts for the middle class.
The positive outlook on the economy and job creation will eontinue to get better and that will also reduce the effects of the so called "Cliff". Keep in mind the experts were dead wrong when they predicted that unemployment would stay above 9% for all of 2011 and 2012. I covered that in a previous commentary here in politidose.
The real danger to our economy and job creation is not the "Cliff" but the failed policies of the past that the republican presidential nominee says he will reintroduce if he is elected President. Keep in mind that 20 years of Reagan, Bush 41 and Bush 43 underperformed compared to the eight years under Bill Clinton. And now it is another democratic President who's policies are slowly leaving the second great depression behind.
