For John, BLUF: There is no avoiding Federal Spending cuts and new taxes, unless you want to end up like Argentina. Nothing to see here; just move along.
Per The New York Times, President Obama is going to Congress to try and avoid the Fiscal Cliff, Obama Offers Deficit Savings to Head Off Automatic Cuts. Mr Stephen Crowley reporting.
President Obama on Tuesday called on lawmakers to quickly pass a new package of limited spending cuts that can head off the automatic, across-the-board reductions that are set to take effect on March 1."Thousands" of jobs? Hundreds of thousands of jobs. The thing is, as the Congress cuts spending it is doing what the Sequestration was designed to accomplish.
Mr. Obama said the Congress should delay the automatic cuts for a period of months to give lawmakers a chance to negotiate a full budget that permanently resolves the threat of the so-called sequester.
“They should at least pass a smaller package of spending cuts and tax reforms” to put off the automatic cuts, Mr. Obama said Tuesday, adding that there is no reason to put at risk “the jobs of thousands of Americans.”
There is no free lunch.
And if you believe in Keynesian Economics you are rejecting the application of good engineering principles.
Regards — Cliff