12-17-2012, 02:11 PM
Red herring. Or at least the story I saw was about a tax hike on "the rich". These are the kinds of taxes where they always say things like "This will raise $600 billion dollars", but they mean "over 10 years". So like $60 billion/year against a deficit of $1 trillion. I don't see how that gets us off the cliff. Even if they meet each revenue increase with an equal spending cut, we'd still only be talking about $120 billion/year against a deficit of $1 trillion.
I expect that whatever happens will largely be a punt and we will be worrying about deficit spending again next year. I am learning towards option #3 of my previous list: same ol' same ol'. I doubt business will have much cause to react positively or negatively.
I expect that whatever happens will largely be a punt and we will be worrying about deficit spending again next year. I am learning towards option #3 of my previous list: same ol' same ol'. I doubt business will have much cause to react positively or negatively.