No deal means ordinary Americans will be hit hardest, claims The Times. Omitted was explaining bipartisan agreement to destroy social America. Details alone remain to be resolved.
Pre or post-yearend doesn't matter. Continuing resolutions extend many policies when agreements aren't reached. Before Congress adjourns, grand plan resolution won't happen.
Expect talks to end by kicking the can down the road. Temporary resolution will likely be reached. More time will be bought. Major issues will be delayed for 2013 Q I and later discussions.
Endgame intentions are clear. Crisis conditions fester. Ordinary Americans will suffer most. Both parties prioritize making them pay for dire conditions predatory bankers caused.
A December 27 Washington Post editorial headlined "Avoid the 'fiscal cliff,' " saying:
Democrats and Republicans remain "at loggerheads." America "faces a harmful and gratuitous economic shock that would be inflicted by its own leaders."
Both sides share blame. Before January 1, expect nothing more than stopgap legislation. Passage will avoid "disaster."
Obama and Congress have days left to agree. Failure would "abdicat(e) their responsibility to the nation."
WP, NYT, and other major media consumers have no idea what's going on. Scoundrel editors, commentators, and staff writers don't tell them.
Economist Michael Hudson discussed "America's Deceptive 2012 Fiscal Cliff." He published part one of a two-part article.
Victors and powerful interests write history, he said.
"Holding the bottom 99% in debt, the top 1% are now in the process of subsidizing a deceptive economic theory to persuade voters to pursue policies that benefit the financial sector at the expense of labor, industry, and democratic government as we know it."
Powerful special interests blame unemployment and America's "loss of industrial competitiveness" on spending and deficit woes.- Advertisement -
Junk economics turns truth on its head. Financial lobbyists claim "austerity can enable private sector debts to be paid."
In fact, "when banks load the economy down with debt," less remains for "domestic goods and services."
Bad policies produce bad results. Destructive ones "reduce private sector market demand." Doing so "shrink(s) markets and employment."