Working as intended indeed.
Well, it looks like we're going over the cliff. I can't honestly say I didn't expect this to happen. There is some good news though. The parties will compromise soon after. They must. I doubt any of the two parties are so bull-headed so that they would allow the US to fall into recession once again. Even though some may argue that going over the cliff is the best long term remedy to the ailing economy, we will be popping some pills to relieve the pain momentarily.
So what's going to happen now? Not much. Not really. Technically we will be experiencing higher taxes and major cuts. In reality, those won't be hitting us until Wednesday, and won't adversely affect the majority of the public until people get their January pay-checks.
Seeing as how I'm typing this up right at the moment of negotiations among the parties in DC (as a side note, procrastination isn't a good thing kids, for both students and congress), a deal could be struck up right now for all I know. Point is, we'll fall off the cliff but we won't feel the impact.
Obama probably won't be getting his single, comprehensive plan for reducing the deficit and reforming what needs to be reformed, but we'll avert the worst for now as we chug into this new year.
Happy new years everyone.
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