We went over but we didn't. It was suppose to happen if nothing was passed before midnight on December 31st yet January 1st came and life seemed to go on. The stock market actually did very good on the 1st, we got a deal at midnight the day after everything was suppose to fall apart and the world was going to end, then against he world was also suppose to end on December 22nd but that's here nor there. We are all alive and the country seems to have not skipped a beat.
As I was doing some last minute shopping I looked around and saw the mass amounts of people at the mall, driving from store to store buying things and thought to myself what recession are people talking about and how was the fiscal cliff going to stop America.
The truth is the cliff was created by the media, politicians and banks. The politicians started this by making a deal that would force them to act (which in the end they really didn't do), the media got a hold of it and ran with it. The deal was really for those that America owes money to which really is American banks (they own the majority of US debt, not CHINA!). So the deal is pretty much a guarantee to the banks stamped by the Federal government that we will pay our debt back sometime (sometime being never). The banks just need something to take to their shareholders to say "hey we are all fine, we will get payed."
As I was doing some last minute shopping I looked around and saw the mass amounts of people at the mall, driving from store to store buying things and thought to myself what recession are people talking about and how was the fiscal cliff going to stop America.
The truth is the cliff was created by the media, politicians and banks. The politicians started this by making a deal that would force them to act (which in the end they really didn't do), the media got a hold of it and ran with it. The deal was really for those that America owes money to which really is American banks (they own the majority of US debt, not CHINA!). So the deal is pretty much a guarantee to the banks stamped by the Federal government that we will pay our debt back sometime (sometime being never). The banks just need something to take to their shareholders to say "hey we are all fine, we will get payed."
The truth is the deal barely affects the average American, there are no Social Security or entitlement reforms, the pay roll tax holiday is now over (it was a short term plan anyway) and our Congressmen and women can now go home wait for the next session and get a pay increase.
Next on the docket for them will be voting on a new (or old) speaker and getting to work on a debt ceiling raise and Social Security and entitlement reform. They have a lot of work to do that they actually need to do.
Further Reading:
-http://www.cbsnews.com/8301-250_162-57561537/fiscal-cliff-averted-now-what/
Next on the docket for them will be voting on a new (or old) speaker and getting to work on a debt ceiling raise and Social Security and entitlement reform. They have a lot of work to do that they actually need to do.
Further Reading:
-http://www.cbsnews.com/8301-250_162-57561537/fiscal-cliff-averted-now-what/