1997 is the last time the Senate passed an actual federal budget. Isn’t that, like, their J. O. B. S.?
Predictably — except, perhaps, to Congress members:
Without action by Congress to avoid a “fiscal cliff,” Americans should expect a “significant recession” and the loss of some 2 million jobs, CBO director Doug Elmendorf said in his gloomiest assessment yet.
…the economy is already being “held back” by the mere anticipation of the fiscal cliff and the uncertainty surrounding it, causing businesses to put off investment and hiring decisions.
The “fiscal cliff” comes at the end of the year when the automatic “sequestration” spending cuts occur alongside the automatic tax increases from “the Bush Tax cuts”. [which are a decade old and could reasonably be called the 'normal' tax rate if people weren't playing weaselly little political games]
All this “automatic” stuff was built in by a Congress that didn’t want to take responsibility for its own actions. They are widely reported as being “unlikely” or “unable” to act before November. Like suddenly this is not their job description. or something.
Like this whole economy thing is such a mystery?
There are not that many moving parts to our economy. The Generating Force: business. The Grease: Consumers – individuals and businesses buying what other businesses produce/provide. Govt: which was invented by The People to make the way easier for the first two to run with, yes, roads and bridges; basic laws against thievery and mayhem; and defense against interference from foreign forces.
It’s not that difficult to figure out that million-dollar studies of prostitutes in Brazil and tunnels for tortoises don’t help generate wealth. It’s not that hard to figure out how to create much more privately held money in The People’s pockets which those who cared about tortoises and Brazilian prostitutes could contribute to those causes.
But now The People have to spend their time figuring out how to protect themselves from the Fiscal Cliff and have little to no time left to give the deserved beratings to the ChickenS Congress who deserve being tossed into the unemployment lines.
ALL of ‘em.