My Take on the Cliff
Have you been watching the posturing in DC over the “Fiscal Cliff”? I have and here is my prediction on the “deal”.
1) There will be tax increases, not only on the “rich”, but across the board.
2) Entitlement Reform will once again be kicked down the road to be dealt with by another administration. Remember this country has no Statesmen/women left in government, only opportunist with no real conscience, aka politicians.
3) The credit rating of this country will be downgraded again.
4) The debt ceiling will be raised again, thus increasing the national debt. A very bad, very unwise move. But these charlatans will do just that. See # 3.
5). Any real tax revenue that might be realized, will not go to debt reduction, just to fund entitlement spending. Any tax increase will be sold to the public as deficit reducing, but that money will go towards other spending.
6) The misery index will increase on every taxpayer as American families struggle to meet this burden. As for those who pay no taxes they will be just fine. Until the bill comes due for all the government money has been filed out, and there is no money left. Printing more money will induce inflation, thus lowering the value of the American dollar.
7) This is a warning. For those who chose to dance another 4 years with President Obama, the music will be ending soon. There will be a financial collapse.