January 2, 2013

America Refuses to Face Up to Reality

Daily Telegraph, Daily Telegraph

AP Photo

The fiscal cliff was concocted by President Obama and Congress as a way of holding a gun to their own heads. The fixing of a deadline for the automatic imposition of ferocious tax rises and deep spending cuts was supposed to concentrate the minds of America’s political leaders and force them into taking the difficult decisions required to start reeling in the country’s truly terrifying levels of public debt.

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TAGGED: Barack Obama, Fiscal Cliff, Eurozone, Europe, UK, United States

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