The politicians are at it again. The bankers are at it again. We are approaching the big, the bad, the ugly FISCAL CLIFF. The sky is falling! Both parties threaten the other with the possibility of being responsible if we should go over the FISCAL CLIFF. Question? Would that necessarily be a terrible thing? Are we being hyped?
But perhaps it would not be so bad. It would cause a drop in GNP. Would it? Maybe it would force congressional oversight committees to do some actual oversighting. Maybe it would require cabinet secretaries to actually manage rather than just set policies. We did OK with Clinton tax rates. No one likes more taxes, but we did fine.
Both parties designed the FISCAL CLIFF to include the sacred cows of the other party. Some hard choices were made. Maybe they needed to be made? Maybe everyone will suffer a little, but in the end we all benefit. If we planned to go over the cliff and prepared for it, could we benefit from it in the not too distant future?
I do not pretend to know the answer, but I know everyone with an interest in government spending is against it. Maybe we should be for it?