As you know, the so-called* fiscal cliff is looming* over us all. The prospect of tax increases and spending cuts has everyone freaked. Our elected officials are in full campaign mode, yet still manage to o attend committee meetings to discuss and debate policy of the utmost importance in order to reach a compromise for the good of the American people. Unfortunately, they're starting to phone it in:
The powerful House Ways and Means Committee, in charge of taxes and entitlements, will have to guide America away from the fiscal cliff before January – but it remained paralyzed to do anything about it on Thursday. The committee met for a brief 20 minutes behind closed doors, and was unable to move the ball forward at all on averting the tax increases and indiscriminate spending cuts that are due to hit around the end of the year. Analysts have said the full weight of that so-called fiscal cliff would likely lead to a recession.