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ECONOMY: Up side to going over the fiscal cliff

Letter by A. David Churchman, Puyallup on Dec. 27, 2012 at 12:38 pm | No Comments »
December 28, 2012 10:39 am

Let’s face it, those who have earned income in 2013 will pay more taxes one way or another. But, when you look at the consequences of the fiscal cliff cuts, it’s really not that bad. In fact, many are welcome.

Half the spending cuts will come from the Department of Defense. It’s time for the Pentagon to reprioritize. The Cold War is over. We lost. The Russians and Chinese duped us into perennial debt. I am not aware of North Korea, Iran or al-Qaida patrolling our coastline in submarines, so why do we need a P8 sub-hunter, for a start?

Lifetime unemployment checks, GM subsidies, bailing out underwater mortgages, corn subsidies for ethanol, Solyndra – all will be just nightmares of the past.

Interest rates will go up, making money markets and CDs viable again.

Best of all, state slush funds from the feds will be pared. A governor’s ability to pay off unionized state workers, local tribal supporters and many ineffective state welfare programs will be curtailed. What a bonus!

All of these great benefits in one swoop on Jan. 1, 2013. However, all these pet rocks would survive a Plan B, C or any negotiated copout agreement. Both parties would revert to slashing Social Security and Medicare instead of defense contractors and state slush funds for the party faithful.

After all, who is fear-mongering the fiscal cliff mania? It’s the lobbyists, liberal media, the Democrats, the unions and bogus welfare moochers.

This is a refreshing opportunity to right many wrongs.

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