As a first important Domestic policy test, financial observers commenting on the steep drop in the stock market today, the day after the election, say that newly re-elected Obama must "immediately act to avoid going over the fiscal cliff".
If past performance is any indication, it's unlikely the administration and Obama will do anything "immediately".
We'll just have to wait ... and see.
The House of Representatives plans to adjourn December 14th though the fiscal cliff kicks in December 31st. Between now and then 2 recesses are planned - Nov. 17-26th and Dec 7-10 with 3 holidays.
Planned Obama family vacations: December 2012 - unknown but last year's was 17 days in Hawaii.
Allowing for calendar business days until adjournment there are 19 days to avoid $607 billion in program cuts everyone agrees will be disastrous for the country and the economy.
Clock's running !
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment