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Economy
Fear of Fiscal Cliff Has Already Cost a Million Jobs
2012-10-26
Front page WaPo. Are they turning on Champ?
The "fiscal cliff" is still two months off, but the scheduled blast of tax hikes and spending cuts is already reverberating through the U.S. economy, hampering growth and, according to a new study, wiping out nearly 1 million jobs this year alone.
Lessee, who was in charge this year? Who insisted on his way or the highway? Who kept blaming the majority of the duly-elected House of Representatives?
But they told us business people don't react to uncertainty or negative changes in the future business environment that way. I don't understand.
The report, scheduled for release Friday by the National Association of Manufacturers, predicts that the economic damage would deepen considerably if Congress fails to avert the cliff, destroying nearly 6 million jobs through 2014 and sending the unemployment rate soaring to near 12 percent.
Maybe this is O's October Surprise - a gift for Mitt.
Posted by:Bobby

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