Fiscal Cliff, No Leader

On January 1, 2013, America careens off a fiscal cliff.  The largest tax increase in the country's history goes into effect.  Spending on defense, Medicare, and other vital areas will be cut indiscriminately.  And, according to the Congressional Budget Office, the fiscal cliff may well push the economy back into recession. One would think that as president, Barack Obama might feel some small concern over the prospect of economic calamity.  But so far, there's been nothing.  No suggestion on how to remedy the problem, no moves toward bipartisanship, not a single measure set forth to avoid the looming tax increases and indiscriminate cuts.  Nothing. Instead, the president acts like the fiscal cliff is none of his concern.  It is, after all, merely a ticking time bomb that has the potential to set the country back to the darkest days of 2008-2009, when the U.S. stock market dropped by more than half from its July 2007 peak.  That market debacle...(Read Full Article)

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