Saturday, December 29, 2012

Deal or No Deal?

As the clock ticks closer to the fiscal cliff deadline of Dec. 31, it remains uncertain whether Congress and President Barack Obama will reach a deal.

If Republican negotiators and Obama fail to avert the fiscal cliff, there will be across-the-board, first-of-the-year tax increases and deep spending cuts.
U.S. Rep. Pat Meehan, R-7, of Upper Darby, expressed concerns about the negotiations during a phone interview Friday.

“I am hopeful an agreement will be reached, but I’m not necessarily optimistic,” he said. “In fact, I am concerned there are too many people who may actually want to see us go over the cliff.

“There are people — partisan ideologues — on both sides of the parties who are arguing that going over the cliff will not be as catastrophic an event as being advertised, and the reason is they believe there ultimately will be a resolution,” he said. “But it’s possible it will not occur until after the new tax rates are locked in.”
Check out more about what Meehan had to say here.

Also, here are more details about how this could affect the local area.

Enough already. Let's get this done. We don't need to start 2013 out with a gigantic fiscal headache.


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