Well, at this hour of the last day of 2012, 10 days into the new Mayan calendar, it’s become quite clear that the United States is falling off the much-looming fiscal cliff. Or perhaps it won’t. Or maybe if it does, the Washington clowns will do something to reverse the new taxes and severe budget cuts in the next few days. Or do part of something. Or maybe not.
As five or six of you probably saw, President Obama made a rare appearance on a Sunday talk show yesterday to put his spin on the events or non-events. He sounded pretty pessimistic. Downright downbeat, in fact.
“I was modestly optimistic yesterday,” Obama told David “Ammo Clip” Gregory of NBC’s Meet the Press, “but we don’t yet see an agreement. And now the pressure’s on Congress to produce…..Obviously I think business and investors are going to feel more negative about the economy next year…..What’s been holding us back is the dysfunction here in Washington.,,,,
“The other part of the fiscal cliff is Congress agreed that they would cut an additional $1.2 trillion in spending. They put a committee together to try to come up with those numbers. They didn’t figure out how to do it. And so what we now have is a situation where these automatic spending cuts go into place.”