The spelunkers are now part of the deal that added another $3 Trillion in debt obligations. The house approved it.
Going over the cliff would have reduced the debt obligations. It would have raised taxes on everybody too. But that is comming one way or another.
Our elected spelunkers need force spending CUTS, REAL CUTS. Not just lowering budget growths, they need to push for cuts to existing budgets like the EPA, FDA, FCC, PBS, SS, Medicaire, Medicaid, Welfare, Unemployment, Etc.
The president gets to raise taxes and more debt. The raised taxes will not actually increase tax revenue to the Fed. It will have businesses and proprietors shuffling the chairs on the ship deck again. That’s all.
Guess what? We are STILL scheduled to "go over the cliff" in two months, at least as far as the "cuts" go. All yesterday's bill did was delay the cuts for two months. The tax part of the equation is settled - - the lower Bush tax rates are now permanent for most people.