Heading toward financial ruin
It is a shame that Republicans capitulated and agreed to raise taxes without significant spending cuts. Economists have said $3 in spending cuts for every $1 in increased tax revenue is a healthy mix for the economy to grow out of the funk it is in now and reduce our national debt.
What we got with the “fiscal cliff” bill is $1 in spending cuts for every $41 in taxes. It is just not in the DNA of this Congress to cut spending. Again, it is politically easier to promise future action than to boldly do anything now. The fortitude to deliver is non-existent. We are one step closer to financial ruin for our great nation.
For the record, Shelley Moore Capito voted against the bill and Bill Johnson voted in favor of the bill.