Fiscal Cliff Reality
Fiscal cliff hype is fear mongering deception.
by Stephen Lendman
Political Washington theater continues. Republicans and Democrats agreed years ago to erode America's social contract en route to eliminating it altogether.
Crisis conditions create opportunities. Former White House chief of staff, Rahm Emanuel, explained.
"You never want to let a serious crisis go to waste," he said. "What I mean by that is that's an opportunity to do things you couldn't do before."
He didn't mean populist ones. He had harsh neoliberal ones in mind. They're institutionalized. Ordinary people and America's most disadvantaged suffer most. The worst is yet to come.
Both sides agree. They're on board to give bankers, warmakers, other corporate favorites, and super-rich elites a bigger piece of the pie. Getting it depends on stealing it from most others. It's happening in real time. Grand larceny writ large looms.
Washington scoundrels also want more money for corporate America, for super-rich elites, to militarize space, fund America's imperium, and wage global wars on humanity. Fiscal cliff hype hides their real agenda. It's hugely ugly, destructive and repressive.
So-called negotiations, headlines, and hype are noise. Both sides will choose their time, place, and explanations to announce final deal terms.
December 31/January 1 are fictitious deadlines. Cuts can come any time. They can be made retroactive to yearend. One deadline alone matters.
On March 27, America runs out of money. It's when debt ceiling limit is reached. US law requires Congress authorize borrowing amounts to fund federal programs.
Doing it means raising the ceiling by late March or sooner. Agreement in principle is baked in the cake. Announcement can come anytime before March 27. Expect details to be finalized along the way.
Corporate approval sealed a done deal. Promised tax cuts bought support. Neither side of the isle dares disagree. Pre-holiday headlines conceal more than they reveal.