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January 12, 2013

“Nothing to Worry About”

Whew, that was close. There for a while I thought the politicians in Washington might actually come up with a resolution to the “fiscal cliff” and eliminate the last of the big macro issues that we faced in 2012.

Fortunately, they managed to “kick the can down the road”. Yes, they did deal with the revenue piece of the puzzle by increasing taxes on individuals earning more than 400,000 annually and eliminating the 2% payroll tax cut which will hit everyone. So don’t kid yourself; this won’t help the economy, but it won’t push it over the cliff either.