The Fiscal Cliff

http://www.washingtonpost.com/business/economy/fiscal-cliff-already-hampering-us-economy-report-says/2012/10/25/45730250-1ecf-11e2-ba31-3083ca97c314_story.html?wpisrc=emailtoafriend

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"Yard by yard, life is hard; but inch by inch, it's a cinch." (Robert Schuller)
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Lori Montgomery reminds us in the Washington Post that, while the "Fiscal Cliff" is two months away, there is damage being caused now by it's prospect. She cites a new report out Friday from the National Association of Manufacturers that predicts that nearly 6 million jobs will be destroyed thru 2014 if Congress takes no action. Predicted unemployment rate: 12%.

But, right now, companies are bracing for the fallout by laying off workers, letting jobs go vacant, and postponing major purchases: "Commerce Department data released Thursday show business investment stalled in September, as orders for core capital goods such as machinery and equipment plateaued at $60.3 billion."

Mark Zandi, an economists whose testimony before both houses of Congress has been highly valued in the past, supports the double digit unemployment scenario if nothing is done to fix the situation.

My problem with all this is that "doing nothing" would appear to be something that "Congress" is very good at!

I hope for the best but I'm bracing for the worst!