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Fiscal Cliff: a Bad Idea Whose Time Has Come.

Posted By Cliff Tuttle | November 21, 2012

N o. 919

Nobody talked much about the Fiscal Cliff during the recent election.  And no wonder. It is the domestic equivalent of the Cold War Doomsday Machine.  What kind of idiots dreamed this one up? Neither party wanted to hear the answer to that one.

Yes, the dreamers on the Republican side thought that they would take over the Presidency and the Senate.  Then, according to the plan, the bomb would be defused by passing the Republican agenda of spending cuts. One problem, however, was that the new President and Congress would not be sworn in until January 20 — possibly twenty days too late.

And the Democratic dreamers thought they would hold the Presidency and the Senate and take the House.  Then, they would pass their own agenda, featuring tax increases for the rich.

At the time, nobody thought too deeply about another scenario — what if the stalemate continued, as it actually did?

The most likely solution — they will agree to set forward the hands on the Doomsday Clock, postponing Armageddon to another day. On the bright side, the legislative solution is likely to be filled with contradiction, creating jobs — for lawyers.

CLT

 

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CLIFF TUTTLE has been a Pennsylvania lawyer for over 40 years and (inter alia) is a real estate litigator and legal writer. The posts in this blog are intended to provide general information about legal topics of interest to lawyers and consumers with a Pittsburgh and Western Pennsylvania focus. However, this information does not constitute legal advice and there is no lawyer-client relationship created when you read this blog. You are encouraged to leave comments but be aware that posted comments can be read by others. If you wish to contact me in privacy, please use the Contact Form located immediately below this message. I will reply promptly and in strict confidence.

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