As as I know, the lack of a deal means $100b in tax hikes and $100b in spending cuts out of a $15t economy, just over 1%. And the debt limit goes up $1.2t. I’m struggling to see what the big deal is. The deficit goes up $1.2t. Taxes are raised a minuscule amount, and spending is cut a minuscule amount. This is really small potatoes, in the overall scheme of things.
As far I know, the lack of a deal means $100b in tax hikes and $100b in spending cuts out of a $15t economy, just over 1%. And the debt limit goes up $1.2t. I’m struggling to see what the big deal is. The deficit goes up $1.2t. Taxes are raised a minuscule amount, and spending is cut a minuscule amount. This is really small potatoes, in the overall scheme of things.
As far as I know, the lack of a deal means $100b in tax hikes and $100b in spending cuts out of a $15t economy, just over 1%. And the debt limit goes up $1.2t. I’m struggling to see what the big deal is. The deficit goes up $1.2t. Taxes are raised a minuscule amount, and spending is cut a minuscule amount. This is really small potatoes, in the overall scheme of things.
So we can look forward to Plan C: What cliff?
The fiscal cliff is more like a crack in the sidewalk. The drastic cut numbers are actually a 10 year total.
The tax holiday is almost over.