Well, we avoided much higher taxes for most of us. The Social Security payroll tax cut didn’t survive, so, there is still to be a tax increase for everyone. Much of the automatic cuts which were suppose to happen got kicked down the road, (who didn’t see that coming?) and we’ll have another debt ceiling argument in the near future.
The long and short of it is that the last debt ceiling argument that resulted in the threat of the “fiscal cliff” was a dismal failure. Nothing has changed.
It isn’t shocking, it isn’t monumental, it’s depressing.
Our leaders, president Zero, with world’s greatest SCoaMF, the Senate, and the House of Representatives had about a year and 1/2 to prepare for this. The end result is higher taxes, no spending cuts, and a future even more bleak than the one when the “fiscal cliff” was agreed to.
The lack of leadership and the cowardice displayed by our elected officials is stunning. All wanted to avoid the cliff they themselves imposed. But, no one, not Boehner, not Reid, not Pelosi, not McConnell, and certainly not Obama had a better idea. Not only did they not have a better idea, none of them even had a different idea! The solution to our problems, apparently, is to continue to do the same things we’ve been doing all along. The White House, the Senate, and the House of Representatives all agreed.
A year and a half, and this is what they came up with.