I heard a knowledgeable economist say that he didn't really know what the effect of going off the fiscal cliff would be. He seemed to think it might even be beneficial. I mean, at least it would involve "spending cuts," although he indicated that, as so often, they aren't really reductions in what was spent this year, they are reductions to scheduled increases for next year.
Is it mainly the word "cliff" that makes it sound
like a fully fatal fall to the ground?
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