This Time Magazine column grasps our country is threatened more by lazy political reporting than by the “Fiscal Cliff.” Just take another look at the 2009 stimulus plan, which Republicans successfully managed to get labeled by the press as purely Obama’s plan, and therefore “socialist”:
“In early 2009, when Obama began pushing his $787 billion stimulus plan, the GOP began describing stimulus as an assault on free enterprise—even though House Republicans (including Paul Ryan) voted for a $715 billion stimulus alternative that was virtually indistinguishable from Obama’s socialist version.”
Likewise, the difference between the “Fiscal Cliff” and the best possible compromise that would ensure our shared, long-term prosperity as a nation are just hairs apart. I’ve written about why here:
Making mountains out of molehills: Comparing the “Fiscal Cliff” to Greece to see that we’re actually doing the right thing, no matter what the reporters and TV pundits keep insinuating with their fear-speak.
Unfortunately, the most likely compromise would be far worse for everyone in the long term. That’s why the “Fiscal Cliff” is a good thing. It’s far from being an “Austerity measure” – and more like “Keeping our budgets in line with our revenues.” If we can’t ever shrink, then the Economists saying that our entire system of government and capitalism itself cannot exist without constant subsidies and overspending. I DO believe Capitalism is sustainable without overspending, so I support the “Fiscal Cliff” plan.