Good evening, future Powerball® runners-up.
You may recently have heard pundits talking about a “fiscal cliff” that is coming to kill us all soon.
Remember way back in 2011 when Congressional Republicans took the U.S. and A. to the brink of a technical default on the public debt to prove a point about something something taxes bad, military spending good, something, all other spending bad, Spain, Greece, something, Ireland, default?
That would have been bad, so at the last possible moment Congress relented and did what everyone knew they were going to do all along: kick the can down the road and leave it to a lame duck Congress to sort out our long term budgetary dilemma. If they fail, tax rates for just about everyone go up on 1 January, Her Majesty’s 2013 and federal outlays will be cut enough to send unemployment back towards nine percent.
Is it bad that your correspondent kinda sorta wants us to drive right over the cliff, for lulz? It would be a fitting end to the ongoing debacle that is the 112th Congress, thass fo DAM sho.
Here’s the Clinton News Network (CNN)’s Christine Romans explaining the timing of when the fiscal cliff’s various provisions kick in.