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Steve McIntosh Report Blog

Avoiding the Cliff ... for now

The politicians really had no choice. After doing nothing for years, the deadline arrived … and at the last possible minute, they passed legislation to avoid plunging over the so-called fiscal cliff. Ever heard the saying, “Do something … even if it’s wrong”?
This legislation was necessary to avoid tax increases back to the pre-Bush tax days. That might have had a terrible impact on the nation’s economy, which is slowly limping back toward full recovery after several years of doldrums.
The Dow Jones Index responded by jumping more than 300 points … a sign that investors approved of the anti-cliff legislation.
But there are potentially more “cliffs” ahead. Congress and the president must still address the federal debt limit and deficits and debt. That will be another mighty struggle over the course of our nation’s fiscal future.
Let’s fight it out and find a solution … now!
For goodness sake, don’t give us another last-minute fiasco.
Our thought for today is from Bill Cosby:
“I don’t know the key to success, but the key to failure is trying to please everybody.”

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01/04/2013 12:59AM
Avoiding the Cliff ... for now
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