No Fiscal ‘Cliff’-mas, But We Kick the Can (Again)

Kick-the-Can-Can

From the Wall Street Journal:

The compromise dodges one cliff, but it sends Congress barreling toward another. In two months, the delayed $110 billion in spending cuts will again kick in. At the same time, the U.S. will face the need to increase its borrowing limit, a change that can only be made by Congress. That sets up another rancorous fight, one with potentially more damaging consequences. Republicans want to use the debt ceiling to extract spending cuts. Mr. Obama has said he won’t negotiate.

The failure to grapple with the biggest budget questions disappointed business leaders who had hoped for a comprehensive budget agreement that could tackle the deficit and diminish what for some has been a debilitating policy uncertainty.

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About Chairman Mao

I like fomenting socialist revolutions and purging my homeland of pseudo-intellectualism and capitalist dogma. I also like sports, dogs and food (although I wouldn't consider myself a foodie).
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