Negotiators reach deal on fiscal cliff. Naturally, no spending is cut. Taxes are raised on people making over $450 grand. Payroll taxes go up two percent, removing that temporary cut. So much for no tax hikes on the middle class. Congress must still pass it, but that is just a formality. Apparently we're all supposed to praise VP Biden for making this happen. Pfft. If it was all about Biden, why didn't he do it a month ago? The Senate passed the bill 89-8. Like I said, the vote was just a formality.
"House Speaker John Boehner, said in a statement after the agreement was announced last night. "Decisions about whether the House will seek to accept or promptly amend the measure will not be made until House members -- and the American people -- have been able to review the legislation." "What a joke. Like the American people are going to review this deal on New Years Day during a bunch of big college bowl games. Tomorrow is the granddaddy of them all - the Rose Bowl - the Orange Bowl and four other big bowls. That's why this deal was announced tonight instead of last night. They wanted the American people to be distracted while the votes occurred.
"As the deal was not signed into law before midnight, the country has technically gone over the "cliff". However, unless the deal fails to clear Congress, any detrimental economic impact will be avoided, as language will likely be added to the final legislation that would make the agreement retroactive to midnight Jan. 1."That would make it an ex post facto law which is illegal under the Constitution, but our rulers care nothing for the Constitution. The article contains a pretty good breakdown of the provisions of the bill.
Why our economic problems are not really about the debt.