<a href=”http://www.flickr.com/photos/59124558@N06/8179109207/” title=”Scary_Count_Floyd_SCTV by dengre.bj, on Flickr”><img src=”http://farm9.staticflickr.com/8063/8179109207_7d4fb2d752.jpg” width=”352″ height=”500″ alt=”Scary_Count_Floyd_SCTV”></a>
Back in the day, Count Floyd was a reoccurring character on SCTV. He was a teevee horror movie host trying to make very safe and mild films sound “scary”. It was funny, nice and silly. All the beltway talk about the so called “fiscal cliff” sounds a lot like Count Floyd.
Yes, the CBO issued a report that if everything happened (tax increases, budget cuts, etc.) on January 1st as scheduled–AND nothing was done to change that–THEN bad things could happen in the short run, but good things in the long run.
The CBO and others are always issuing reports like this based on the status of the laws on the books. The trouble with these reports is that those laws and rules are always changing and making these reports obsolete. Do you remember the report before the Bush tax cuts were passed that we were paying the debt down too fast?
To believe the hype about the so called “fiscal cliff”, you have to believe that Congress will not make any adjustments to taxes if the Bush Tax Cuts expire. And you have to believe that Congress will keep all the budget cuts in place for the next decade. Believing either of those two things is silly–as is the “fiscal cliff” talking point.
There are real budget issues to sort out. And a plan must be made to retire the Reagan/Bush debt that Conservative magical thinking has inflicted on the Nation, but any embrace of wingnut framing like this “cliff” nonsense will not help.
I think the budget cuts and the long range debt solutions will be sorted out by the 113th Congress–especially because the Tea Party 112th Congress is incapable of doing anything.
The tax cuts are another matter. It is possible that Republicans might have a moment of clarity and decide that the Senate Bill keeping the tax cuts in place for the first $250,000 of income for ALL Americans is a good deal for them and the Nation, but this is the Tea Party Congress and they’re dumber than a bag of rusty broken hammers. So, expect them to force everybody to go over their “cliff” of talking points. The Bush tax cuts for all will expire and then in 2013 new Obama tax cuts for everybody making under $250,000 will be passed and signed into law.
President Obama will get more credit and the wingnuts will do even more damage to the GOP brand. They must really love their chickens.