Somewhere along the way, too many leaders in Washington lose
sight of the people they went there to serve. They become jaded
politicians worried more about party loyalty, embarrassing the
other side and re-election than about their constituents.
They become willing to let the nation crash over a fiscal cliff
that will likely drive a fragile economic recovery back into
recession as part of some grand political game. Partisans on both
sides believe the cliff could benefit them politically, the effects
on real people be damned.
Some Democrats argue that if tax rates automatically return to
what they were before the Bush-era cuts, then Republicans could be
convinced to support changes without violating the foolish anti-tax
pledge many have taken.
Some Republicans argue that going over the cliff will deliver
long-sought spending cuts, over Democratic objections.
This is no game. In less than a week, with the dawn of a new
year, the fiscal cliff will arrive. If Congress and the White House
do not act, deep federal spending cuts and steep tax increases will
affect every American. Real people will lose real jobs. States that
have already weathered years of fiscal trauma will take a fresh
hit, Virginia particularly with its reliance on federal spending.
The cliff is a manufactured crisis, an agreement reached when
Republicans and Democrats bickered about the debt ceiling more than
a year ago. It is an artificial deadline, but one with real
consequences. The notion was that the cliff would present such a
dire threat that the two major parties would have to come together
to prevent it. They failed.
With mere days left, hope of a grand bargain that would make
substantive revenue and spending changes is all but gone. Reluctant
House Republicans will brook no tax increase, even just on the top
1 percent of incomes. Even if President Obama and Republican House
Speaker John Boehner can strike a big deal, legislative logistics
make passage by the end of the year difficult.
The more hopeful approach now lies in the very artificiality of
the crisis. What Congress created a year and a half ago, it can
dismantle or at least postpone. Delaying expiration of tax rates
and benefits as well as sequestration requires only a simple bill.
It should never have come to this, but it has. Punting for more
time now is preferable to crashing over the fiscal cliff. Give the
nation at least the slim hope that something better could still
emerge.
Most Popular Stories
- SEO Traffic Lab Celebrate Wins at Digital Marketing Event 'Internet World 2013' in London
- Social Media Initiatives Should Follow Customers' Lead
- Apple CEO: Offshore Units Not a 'Tax Gimmick'
- U.S. Senate Accuses Apple of Large-scale Tax Avoidance
- UTEP Water Recycling Project Wins Venture Titles
- Marketo Makes a Mint in IPO: Stock Shoots Up More than 50 Percent
- Bieber Booed at Billboard Awards
- Crude Oil Up, Gasoline Down
- Austin Startup Compare Metrics Raises $3.5 Million for Expansion
- Why So Many Top 'Car Guys' Are Actually Women
News-To-Go
Advertisement
Advertisement
News Column
Punt on Manufactured Fiscal Cliff Crisis
Dec 27 2012 1:40PM
Editorial -- Roanoke Times & World News
Advertisement
Source: (C) 2012 Roanoke Times & World News. via ProQuest Information and Learning Company; All Rights Reserved
Story Tools



