There has been rhetoric, meetings and discussions as we sit on New Year’s Eve looking over the edge of the “Fiscal Cliff”. If that was not enough, the debt ceiling limit will be reached today. The one thing that did get done in Washington this weekend was the President signed an executive order to give everyone in the 3 branches of government a raise which will cause a billion dollars a year more in spending. This weekend proves more and more how broken Washington is when it comes to handling our finances.
At this stage our perspective is that going over the Fiscal Cliff is probably the best thing that could happen to our country. Sure , we will all have less spending money which negatively impacts our GDP, but in the long run we will look more promising. So let the administration do nothing. Any deal that could be reached would not be as effective as what will be mandated by law nor stave off a second downgrade to our debt by the rating agencies.
Have a Happy and healthy New Year!!!!!!