VIDEO: That so-called "fiscal cliff" is more like a "fiscal slope" or "fiscal curb"

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The media is working itself into yet another frenzy, this time about the so-called "fiscal cliff" clock that's ticking away. They must need another ratings boost now that the Big Election Week has come and gone.

So it's all Fiscal Cliff all the time. If no tax deal is made by the January deadline, we're all gonna die! We'll have another Great Depression! We'll all go bald and break out in welts and never eat pie again! Help meeeee!

But no. That won't happen. Okay, some of us will go bald at some point, but we won't die and there may be a temporary dip unless Congress does nothing, which won't happen. They'll snap to attention and legislate retroactively. No one other than the top 2% will have their taxes go up.

As Chris Hayes points out, Ben Bernanke coined the phrase "fiscal cliff" to "kick Congress's butt to do something stimulative, and you CAN go off it. It's a little driveway!"

A slope. A curb. A little driveway. A situation that, should it occur, would be immediately rectified. 'Nuff said.

Well, except saying that the GOP has "no vision for the future."

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  • http://twitter.com/Aqua_Buddah Jason Rowe

    I want PBO to order Congress into session, and KEEP them in session until they do their jobs. I don't care about the "cliff", it's more important to END the OBSTRUCTION.

  • http://nefariousnewt.blogspot.com NefariousNewt

    I think it's safe to say that the payroll tax cut needs to be put back, to keep from shorting Social Security. As for the Bush-era tax cuts, I think that leaving them in place for anyone below $250K is fine -- what needs to happen is that not only does it have to expire for anyone above, the tax rate needs to go up. Maybe above $1M? Anyone, it's not even a slope; it's more like a pothole.