Another Look At Fiscal Cliff

Several sources have taken a closer look at the "fiscal cliff" deal. It sure looks like it included a few "bridges to nowhere."

Here's a good rundown by Jim Hightower of Texas.

My own assessment of the "American Taxpayer Relief Act" is that it could easily have been worse. But what we really need to worry about is jobs, not the deficit.

Unemployment caused the deficit, not the other way round. The deficit increase is mostly a result of unemployment, and the resulting activation of safety net programs, otherwise known as "counter cyclical" measures.

In other words, at the present time, the deficits are a feature, not a bug.

Here are some links to other articles:


"From NASCAR to rum, the 10 weirdest parts of the 'fiscal cliff' bill," www.washingtonpost.com, January 2, 2013.
"Eight Corporate Subsidies in the Fiscal Cliff Bill, From Goldman Sachs to Disney to NASCAR," www.truth-out.org, January 2, 2013.
"Fiscal Cliff Deal Extends Measure Making It Easy For Wall Street To Avoid Taxes," www.thinkprogress.org, January 3, 2013.