Do We Really Need a “Fiscal Cliff” Countdown Clock?

I don’t know if MarketWatch is just one of many news organizations that have started a “Fiscal Cliff” Countdown Clock (I wouldn’t be surprised if they are), but it sure doesn’t seem as though one is necessary. Even if we do go “over the cliff “(an expression that is both odd and funny when you hear talking heads say it on TV), not much happens when the clock is done counting down.

Sure, some layoff notices will probably go out and accounting departments will have to work quickly to calculate all the new withholding amounts for their first round of paychecks in the new year, but, other than that, going over the cliff itself is a non-event. It’s the slow, grinding slowdown in GDP growth that follows in the weeks and months ahead that is the real problem…


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