For the third year in a row I am not writing a year-in-review column because, honestly, they’re boring and unnecessary. If you’ve been interested enough in the federal budget to read my column in 2012, you already know what happened and probably don’t want to be reminded. If you didn’t care during the year, you don’t need to know now.
The headline above is how Variety, the Hollywood news magazine that uses its own insider lingo — what it calls “slanguage” — might describe what’s currently happening with the fiscal cliff.
After all of the lengthy, difficult and failed budget negotiations over the past few years, did anyone really think dealing with the fiscal cliff was going to be fast, easy and painless?
Other than the fact that we’re now two weeks closer to its tax increases and spending cuts going into effect, not much has really changed about the fiscal cliff since my last column was published two weeks ago.
Last week’s election results did not change my opinion that we’re more likely to go over the fiscal cliff than to avoid it.
The senior executives at Standard & Poor’s, Moody’s and Fitch Ratings — the big three companies who take it on themselves to rate the credit worthiness of the United States — must not be sleeping all that well these days because of the fiscal cliff.