The concerns that the Fiscal Cliff debate will destroy our economy are nonsense.
Baltimore, MD (PRWEB) December 13, 2012
The ongoing debate over how to solve the United States’ so-called “Fiscal Cliff” is front and center in the media right now. But as Matthew Weinschenk illustrates in his current article (full text available here), the fear is overblown and the gap will be bridged no matter what.
This Fiscal Cliff has captured the popular imagination as media pundits paint pictures of a nation brought to the brink, forced to reach a daunting political compromise and cut spending and/or raise taxes, or face automatic cuts that could be crippling to the nation and the economy. Are the dangers real or is this merely a media boondoggle?
According to Weinschenk, yes to both. The threat is very real, but the fear that surrounds the process is without a doubt the product of media spin.
Despite a lot of bluster and posturing from ranking Democrats and Republicans, a solution will be reached and the gap bridged. Why? Because the serious consequences of going over the Fiscal Cliff will be far too damaging to the ongoing economic recovery and the key players in the debate know this full well.
But what the mainstream media is missing right now is that once the debate is over and a solution has been reached, stocks are going on a tear. And you can take that to the bank.
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