12/03/12 — Fiscal cliff: Deadline looms, but divide still remains

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Fiscal cliff: Deadline looms, but divide still remains

If you don't want to worry about the state of the economy, ignore the commentary accompanying the discussion of the looming fiscal cliff.

If you listen to that, you will wonder if it is even possible for Congress and the president to even come close to agreeing on what to have for lunch, let alone which direction to take the economy.

Reality is, the situation is a little bit dire -- if such a characterization is possible.

Without an agreement, your taxes will go up this January.

But there is another side, too. The wrong decision could make an already weak economy even weaker -- so your job and benefits could be threatened as well.

Sounds like a real cliffhanger, doesn't it?

Truth is that something needs to be done -- and it probably includes tax changes and some serious entitlement program cuts. And both sides are going to have to make some concessions.

The president continues to assert that his re-election means he has carte blanche to do as he pleases with the economy. Yet, the truth is that he was not elected with a mandate -- and his handling of the economy was already in doubt.

And we already know how the country feels about Congress.

Keep an eye on the negotiations and the discussion. And if you have an opinion, have your say.

The nation's economic health could depend on it.

Published in Editorials on December 3, 2012 10:55 AM