Cliff Diving, Using the Obama Fiscal Flop
An inverted back one-and-a-half pint full o’ hope and change.
That ‘Fiscal Cliff’ You’re Worried About? It’s Already Here
The much-bandied about “Fiscal Cliff” is already here, according to economists and investors, as businesses curb spending in anticipation of the higher tax rates and reduced spending set to be enacted at the end of this year.
“The fiscal cliff is not just a year-end story,” wrote Michelle Meyer and the economics team at Bank of America Merrill Lynch in a report to clients. “We expect the uncertainty shock to be realized in the coming months, escalating before the election.”
The economists argue in the report that businesses have already started to curb investment and hiring plans in the face of this tightening of fiscal policy, further cutting into GDP.
In fact, Bank of America believes that the first quarter economic growth of 1.9 percent will prove to be the best three-month period of the year. They see 1.5 percent annual growth in the second quarter and just a 1.3 percent GDP in the current quarter.
Nothing like having the Duffer-in-Chief in charge! You BET I’d pick this miserable turd over a competent business guy like Romney any day of the week.
Well. Almost any day.
Except, possibly, November 6, 2012.
🙂 Change, baby.
Biz, Nanny State, People, Politics | tree hugging sister | 
July 9, 2012 4:33 pm
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“Remember, remember, the Sixth of November!”
I can see it from my house.
Yet when you note such obvious dangers the liberal pundits mock it as the “certainty fairy.” Bambi and company really have no freakin’ clue how businesses operate.
I’m very bullish on “unexpectedly” the second half of the year.