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Risking a recession

The Ironton Tribune Published: November 21, 2012 4:00 AM

For more than a year Congress has taken an approach of "why solve today what can be pushed off until tomorrow," hence the looming so-called "fiscal cliff" the country could plummet off if a greater commitment to compromise doesn't take hold.

But, based on (the) meeting between Senate and House leaders and President Barack Obama, all parties may finally be ready to put politics aside and start finding a middle ground on the billions of automatic spending cuts and expiration of income tax breaks that are set for the end of the year.

Many Americans may believe this is really not their problem and doesn't have anything to do with them.

They couldn't be more wrong. Both the cuts and the expiration of tax cuts could hurt the average citizen and economists warn might throw us back into a recession.

Democrats remain adamant that any plan must include the wealthy picking up more of what is deemed to be their share of taxes. Republicans insist that any plan must include reform of entitlement programs, also a legitimate concern in order to ensure they remain solvent for years to come and aren't being abused.

Much work remains to be done but for the first time in months, it seems that a possible solution is on the horizon. This is what the American people want and what the economy needs.

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anonymous Nov 21, 2012 9:16 AM

Economists have been saying for quite some time how the only way out is to raise tax and cut spending. But then you got this one group who has been signing pledges to never raise a tax. Everyone wants to cut spending long as the decreases in spending isn't in their district or involve their projects. And who is truly running this show? One of those people complains about having to add 14 cents to the cost of a $10 pizza for his employees health care while giving away millions of pizzas in a promotion.

I hope this fella was putting on this public display of greed so the public can see the depth of entitlement these people believe they possess. We almost got one of those people for President, that we didn't is enough of a gift for me.

anonymous Nov 21, 2012 8:06 AM

The debt and deficit is a major crisis that will have disastorous effects on all but the most wealthy. The wealthy will hoard their gold and do just fine. The remaining 309.9 million Americans will suffer under the burden of owing the Feds over $1.3million each. The cliff is real wheather it is this year or in 4 years, but it is coming and there is no one to bail out the World when the USA fails. There will be riots initiated by the recipient class when they don't get their money. We have already seen exactly that in Greece and France.

Until Congress is forced to live the same life as the people they rule over, they will do nothing. Congress should not be enjoying high pay, outrageous perks, lifetime pensions,luxury medical care. Congress should be populated by "common" sense people as a short term service to their constituents. Congress should not be populated by lawyers who have never worked a productive job in their life and have no idea what it takes to "earn" a living.

anonymous Nov 21, 2012 6:36 AM

We should run, not walk, to the fiscal cliff. Over we go! Don't worry, some of us are fiscal base jumpers. We've packed our own parachutes. We never let Coongress touch them! So will by soaring while we watch the rest splat on the rocks below!