What’s to be “happy” about? Consider the consequences of “going off the Fiscal Cliff”:

“…eliminating the payroll tax cut alone could result in incomes that are anywhere from $10 to $100 lower on average per month for American families.”

“A family earning about $55,000 would likely pay an additional $2,200 to $3,500 in taxes next year if the cuts and taxes go into effect, according to the nonpartisan Tax Policy Center.”

“…the [total] impact could amount to as much as 4%-5% of GDP…”

“[It] will devastate every aspect of Defense Department spending, from fighting the war in Afghanistan and supporting troop health and morale to training, maintenance and modernization, and carrying out the defense strategic guidance…”

“…would recalibrate how milk is priced, which could more than double the price from its current $3.54 per gallon.

Thanks for reading!

This entry was posted in History, Politics, The Economy and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Why ask?