When is a cliff not a cliff?

By
  • Jordan Richardson — University student
December 05, 2012

Although it would not be the best scenario, going over the “fiscal cliff” would not be as disastrous as the media makes it out to be.

On the floor of the House of Representatives, Rep. Keith Ellison, D-Minn., said that the “cliff” is actually a set of deadlines. This provides a less urgent, and yet more accurate, analysis. The media, however, thrives on controversy and excitement, and frankly fiscal deadlines are not exciting enough to increase viewership.

If Congress gets to the end of this session and a deal has not been passed, the result will not be as bad as stations like Fox News, CNN and MSNBC make it out to be. The economy will merely be placed into a similar scenario as it was before the current tax rates were lowered. Democrats will then force the Republicans to either vote to lower taxes on 98 percent of Americans or vote in a way which protects the taxes of the upper 2 percent. Therefore, the former party has the stronger advantage in negotiations.

Contrary to what the political pundits argue, the “fiscal cliff” is not likely to be the end of our economy and plunge us into recession.

 

 

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