Fiscal Cliff Doomsday Avoided
(WASHINGTON, DC) The fiscal cliff, it’s the name someone first thought up for a doomsday when it comes to a government budgeting.
Stocks could dive, long-term unemployment end, and workers face layoffs
A senate approved compromise means more taxes for single people who make more than 400-thousand a year. Families who bring in 450-thousand would pay more too.
The big issue was spending cuts, they won’t happen for at least two months and that’s what has so many republicans upset.
“We need to come together and work together for the betterment of the country”, said Congressman Steve Cohen.
“My district can’t afford to wait a few days and have the stock market go down a few points if we don’t get together and do something.”
The big boom was diverted thanks to a late night vote, the house passing the bill and preventing the financial disruptions on Wall Street.