Government Spending Will Push Us Over the Fiscal Cliff
year draws to an end, America faces yet another
Congressionally-manufactured crisis which will likely end in yet another
11th hour compromise,
resulting in more government growth touted as “saving” the economy.
While cutting taxes is always a good idea, setting up a ticking time
bomb with a sunset provision, as the Bush tax cuts did, is terrible
policy. Congress should have just cut taxes. But instead, we have a
crisis that is sure not to go to waste.
surrounding the January 1 deadline for the Budget Control Act’s
spending cuts and expiration of the Bush tax cuts seems all too
familiar. Even the language is predictably hysterical: if government
reduces planned spending increases by even a tiny amount, the economy
go over a “fiscal cliff.” This is nonsense.