What is Fiscal Cliff Deal?
The term fiscal cliff has been used at various occasions in the past to refer to fiscal issues. It is already known to the public that Congress created the fiscal mess that it is currently squabbling over. Furthermore, it is quite surprising to see it wrangling over the issue like hapless teens fighting on prom night. There is actually a lot of action as a result of both political force and resistance; however, that does not seem to excite or satisfy the audience anyways.
Regarding the selection between the winner and the loser, it is suggested to give out credit to the Democrats for their incredible public relations triumph which they however, cannot exploit in the form of policy gains in the future. The fact today is that a deal has been forged quite intelligently, even though every other person has responded with hints of dissension that is quite obvious and distinguished.
Molly Ball has neglected how the major stakeholders are entirely discontented about the whole issue, whereas Dave Jamieson also is a distinguished case of forgotten stakeholders. Although, there is a lot of calamity, tension and disappointment looming over, there is another huge blow that is here to stay – the future of debt ceiling. More likely the whole issue is expected to come up in full bloom in March which has already begun. Experts and critics strongly opine that it would be a series of repetition of what happened in the last round when the Republican legislators took over the debate and openly threatened to cause damage to the international economy. It is believed that they are planning to do all that again.
At the same time, Senator Lindsey Graham said that it would be the best thing that could be done. He further remarked that whatever was about happen is not all what he wanted, however, in the true sense of the word it is called American Democracy, hence the debtceiling. There is no further debate on this issue by the Senator as of yet which clearly tells us that neither his viewpoint has changed nor he has been taken aback by the hurdles.
Effects of Debt Ceiling
The debt ceiling is more or less akin to the fiscal cliff in one significant way at least. It is an image that cannot explain the reality that prevails whereas at the same time simple and quick to instigate as a source to erupt chaos and coerce a state of alarm. In the more admired perception, the entire idea of raining the debt ceiling has boiled down to the point that it is an act that allows Congress to increase its spending.
People see this standard procedure as one that establishes a whole new space for whole new spending altogether. However, this is certainly not perfectly true since the decision to the take the debt ceiling to a whole new level is in fact a tradition during which the Congress recognizes the expenses of its shared past actions and reiterate its assurance to do good as per its commitment.
At a certain time, it was also rumored that the White House has refused to accept the fiscalcliff deal that was exclusive of immediate disarmament of the debt ceiling. This is considered to be one of the most significant demands put forth during the negotiations by the White House. However, as the debate made its way to the unexpected lash out on New Year’s, this disarmament issue raised its head again as a matter of demand and was substituted with a coherent symbolic perseverance from the president that there was nothing that he could do over the issue of debt ceiling and that his days of doing anything were now over.
However, the fact is that no one person in the country believes the statement given by Obama regarding his stance about what he could do for the debt ceiling issue has now translated into a tough agreement that is expected to stay on for long. On the other hand, staying on the line in a negotiating session is something president Obama is not fond of. The president even said that the issue of debt ceiling was not technical, but political.
The issue of debt ceiling has taken a new shape surrounded by rumors, debates, misstatements and political wrong doings. Some believe that it has become more a matter of egotistical perseverance for those in power; however, many are also expecting a favorable and well-improvised decision as the month of March advances.
Angelina is an expert writer on American politics and has been writing columns for over 30 years. She also has keen interest in history and spends her spare time reading books, blogging and writing for community websites like www.ConsolidatedCredit.