Monday, November 12, 2012

There Is No Fiscal Cliff



Update: Someone else agrees with me,
Deficit Hawks and Hypocrites - NYTimes.com
...And then there’s the matter of the “fiscal cliff.”

Contrary to the way it’s often portrayed, the looming prospect of spending cuts and tax increases isn’t a fiscal crisis. It is, instead, a political crisis brought on by the G.O.P.’s attempt to take the economy hostage. And just to be clear, the danger for next year is not that the deficit will be too large but that it will be too small, and hence plunge America back into recession..

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