On the Edge

The election is over and the fiscal cliff is looming. It is time to get back to Washington, roll up the sleeves, find some common ground, and fix the problem. Senator Kay Bailey Hutchison (R-TX, retiring) has assured us that both Democrats and Republicans are intent on confronting the situation, so we can all relax, right? Unfortunately, Senator Hutchison is wrong. There is not one, but several fiscal cliffs, and depending on your party or your philosophy, these cliffs are different, mostly contradictory, and demand completely opposite solutions. Compromise can only be reached on common ground, but the only common ground is that there is a problem, and something needs to be done, soon. It is extremely important that the right thing be done, because should the wrong thing be done, not only will the problem persist, but it will be made worse. So what are these cliffs? If you are a Democrat, the first cliff is the debt ceiling. Should Congress fail to authorize the borrowing of more...(Read Full Article)