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Turns Out You're Not Worried About the Fiscal Cliff

At least that's what the numbers say.

After Citizens for Tax Justice posted here on about the fiscal cliff not actually being an urgent issue, I saw Warren Buffett on television at the beginning and end of my day saying much the same thing—the second time on The Daily Show, with jokes: Why does Mr. Buffett so desperately want a tax law named after him? "All the diseases are taken!"

Buffett made the rounds to promote his new book, and his name and success meant that everybody teased the heck out of his appearances, but this call for calm has been coming on strong for weeks.

You know who else I learned isn't worried about the fiscal cliff? You. At least, that's what the numbers say, according to the New York Times Economix blog:

Despite stagnant incomes and the threat of fiscal contraction scheduled for the end of the year, consumer confidence rose again in November, reaching its highest level since February 2008.

... Perhaps Americans have faith that Congress will reach an agreement and avert a sharp fiscal tightening.


CTJ's argument goes farther, though, saying that we shouldn't be worried about Congress making a deal (they will) but that we should be worried about Congress making a bad deal:

More than anything else, they’re trying to create the sense of desperation and emergency (think Shock Doctrine) that leads to a “solution” that Americans don’t support, a solution they’d mostly oppose if it was debated in an open, deliberative fashion. Recall how 2010 ended with President Obama “compromising” with Republicans by extending every single tax cut they wanted, including those going to the very rich.


But you already knew that.

Photo via Flickr (cc) user torbakhopper.

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