The Good, The Bad And The Ugly From The Fiscal Cliff Deal.

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January 3, 2013 - 9:56am

By TheEconomicCollapseBlogThe fiscal cliff deal contains more bad news than it does good news.  Yes, the tax increases on the middle class could have been much worse, and we should be thankful that Congress at least did something for the middle class.  Unfortunately, they didn't do enough.  Every American worker is going to pay higher taxes next year as a result of this deal.  The fiscal cliff deal represents the biggest tax increase in 20 years, and it is also projected to increase the U.S. national debt by an additional 4 trillion dollars over the next decade.  In the final analysis, U.S. government finances are still wildly out of control and we are all going to be paying higher taxes.  Not a whole lot to be excited about, and nothing has really been fixed for the long-term.  Our politicians have kicked the can down the road once again, but someday they will run out of road and all of this debt will absolutely crush us.  And of course a lot of our politicians didn't even really know what they were voting for.  The fiscal cliff bill


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