12 November 2012

The Fiscal Cliff

One can not listen to talk radio for 30 seconds or turn the page of a newspaper without hearing or seeing the term "fiscal cliff". This term is a sequel to the phrase "having said that" and the word "resonate". It is a meaningless term which explains its continuance use. Apparently we have reached the abyss and are peering over the edge in terror contemplating its immeasurable depth and certain death if we slip. The use of term "fiscal cliff" is meant to instill fear in the general public and bring out the vote of those who continuing to believe that the financial practices of the federal government somehow equate with those of an individual. The last I was aware, it was a felony for me to print money. One pundit has exclaimed that each of us are now $51,000 in debt and our children will be on the hook for this. This figure was presumably obtained by dividing the trillions in the national debt by the number of citizens of the United States (not counting illegal immigrants who I believe should bear some of this burden as well). I keep a pretty close I on my own balance sheet. I have the rudiments of accounting and can work my way through a financial statement and have for some years now been able to track my income and expenses and file a correct tax return. Nowhere on my financial statement am I able to locate this debt of $51,000. No one has presented me with a bill for that amount nor do I expect anyone to. I feel the presence of no cliff nor am I aware of any for several hundred miles. I do not feel imperiled. The "fiscal" portion of this term does not relate to me in any respect. The term is limited to government monetary policy, revenue, expenses, and taxation. I personally do not have a "fiscal" policy nor am I intending on developing one. I try to mind my own business and I think the federal government should mind its own affairs. The FBI with its almost unlimited resources should put out a wanted poster on the person who first used the term "fiscal cliff" Any person who can massacre the English language and then allow it to pervade the airways and news print has committed some kind of crime and should be prosecuted. Once this current felon has been imprisoned, they should turn their attention to the person who first publicly stated "having said that" and "resonate". Possibly prosecution would deter the use of meaningless terms to discuss important subjects. Neither the people who use the term "fiscal cliff" nor the people who hear it used have any notion of what is the issue, or even if there is an issue. A little clarification could actually be beneficial.