We keep hearing about the “fiscal cliff.” Here is my take: The only fiscal cliff America is facing is the one linked to the deficit that is on track to pass $17,000,000,000,000.00 before this time next year.
What America needs to do is to embrace the Budget Control Act of 2011.
The Budget Control Act of 2011 - signed by the President - was a bipartisan agreement and, in the name of bipartisanship, everyone should reluctantly and regretfully honor it.
It passed the House with 95 Democratic and 174 Republican votes
It passed the Senate with 45 Democratic and 28 Republican votes.
The President signed it into law on 3 August 2011.
Nothing could be more bipartisan.
Even the name sounds great: The Budget Control Act.
The real agenda item is to pass the Bowles-Simpson compromise.
Mike
