Fiscal Cliff Deal Reached In The Nick Of Time But Will It Work

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Fiscal Cliff Deal Reached In The Nick Of Time But Will It Work

January 1. 2013

Barack Obama

The U.S. Congress is attempting to start the New Year off with a deal on the fiscal cliff, regarding tax rates and government spending. America is severely in debt and nothing short of a complete committal to reversing the negative financial fortunes of the nation, will see the country back to prosperity.

President Obama and his Democrats, as well as their Republican rivals, are having a difficult time agreeing on a proper, dedicated plan that will restore balance to the U.S. economy. The Judiciary Report has consistently advocated a tax increase on the rich and budget cuts on the government. The Democrats are for the tax increase and the Republicans are for the budget cuts, both opposing the other on their proposals. It's a shame they can't do both as the Judiciary Report recommends.

Based on reports, a deal has been reached, but it is said the potential pact, which has to be voted on, does not include budget cuts, which are vital. As it stands, the government spends too much money on frivolities that need to go. Non-essential research grants for such items as watching bears (all you need to know is don't mess with them - research done), bloated expense accounts for government executives staying in the Four Seasons and flying around in private jets, to name a few, need to be axed from the budget (stay at the Holiday Inn like everyone else and go get your own ice). Seriously, the government is spending too much money, racking up massive debts, to the tune of $4 billion dollars per day. Some nations don't even make that much money in one year.

The current agreement is said to include a tax increase on the rich, which is good, as money is needed to pay the nation's bills (schools, teachers, county hospitals, policemen, firemen ect). Currently, Congress is set to vote on raising taxes on individuals making $450,000 and up per year, which is a healthy salary. If you make upwards of $450,000 per year, unless you have a cocaine problem or something, you can afford a measly 5% tax increase to help out to aid in getting the country out of the bind it is in. Really, who can't live on a couple hundred thousand dollars per year.

Congress

I must admit, my confidence level in Congress is not very high right now, as they've been going in circles for the past four years regarding the current financial crisis, which has wreaked havoc on America. Had they taken more prudent and expeditious measures years ago, things wouldn't have gotten to this very difficult juncture. They are the gatekeepers. The buck stops with Congress and they have no one to blame but themselves for letting things reach this point.

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