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Fiscal Cliff Showdown Postponed to March

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United States
01/02/2013 02:04 PM
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Fiscal Cliff Showdown Postponed to March
With a cocky President Obama no doubt grinning from ear-to-ear, federal lawmakers yesterday gave their blessing to legislation that boosts income tax rates and government spending while kicking many of the “fiscal cliff” issues down the road for several weeks.

The $1.2 trillion in scheduled spending cuts –falling largely on the Pentagon– have now been officially postponed for two months. The next manufactured crisis comes March 1, the day the cuts will take effect unless Congress intervenes again to stop them.

[link to frontpagemag.com]