Why going over the so-called fiscal cliff is a great step for the American economy and children

Going over the fiscal cliff is a misconception aptly named to incite fear and dread among the populace. In reality the first day of January will be more like going over a fiscal hump. Politically motivated fear tactics have proven themselves to be nothing more than that on a consistent basis and this latest effort will be no different.

The current hype over the fiscally sound policy changes seems to be full of contradictions, irony and a paradox thrown in for good measure. The current squabbling by the two factions in Congress over who is to blame is puzzling. After all, it was a bipartisan agreement in 2011 to phase-in policy changes that would help to reduce the burgeoning debt load of the United States Government and foster greater opportunity for long lasting and solid economic expansion. Blame is misapplied in this situation. Conversely the term accolades should instead be applied.

There are many facets of the fiscal bill that will provide significant benefits to society as a whole. The most profound will be a reduction in government debt. This will release monies currently held in government bonds to flow into the private sector. Business and consumer borrowers will have access to a larger pool of funds at reduced interest rates. There are some much more important likely benefits of this modest austerity platform that are not purely financial.

Reduction in childhood obesity and asthma,

Decreased production of subsidized carcinogens that contribute to significant sick-care costs in the US,

Provisions to encourage more free market competition, and

Reduced dependence on foreign petroleum products

There are, of course, more benefits and detailed explanations that an entire book could be composed of but for my purposes here I am simply offering a realistic alternative to the doom-and-gloom scenarios being perpetuated by the people who profit from fiscal irresponsibility. Our Congress took an unusual step in 2011 of doing something that will provide significant benefits to us all. Instead of embracing and fostering greater moves in the same direction we instead have a president and congressional leaders now trying to undo what may have been the most dynamic bi-partisan effort to begin grappling the broad spectrum of ills associated with the high national debt.

Keep an eye on Greece to see what the united States faces in the future. Welcome China as your new world super-power of fiscal strength and social influence in the 2011 austerity platform is overturned.

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