Prediction: of “fiscal cliff” U.S. economy to contract in 2013!
Early next year income taxes are set to go up when the Bush-era tax rates expire. Automatic spending cuts totaling roughly $109 billion triggered by last August’s debt-ceiling deal are set to hit. Meanwhile, payments to physicians under Medicare will be slashed.
‘It’s Even Worse Than It Looks: How the American Constitutional System Collided With The New Politics of Extremism’ by Thomas E. Mann and Norman J. Ornstein
Their principal conclusion is unequivocal: Today’s Republicans in Congress behave like a parliamentary party in a British-style parliament, a winner-take-all system. But a parliamentary party — “ideologically polarized, internally unified, vehemently oppositional” — doesn’t work in a “separation-of-powers system that makes it extremely difficult for majorities to work their will.”
Judy Woodruff discusses the dysfunctional behavior in the nation’s capital and what can be done to fix the polarization problems with Thomas Mann and Norman Ornstein, authors of the new book “It’s Even Worse Than It Looks: How the American Constitutional System Collided With the New Politics of Extremism.”
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- End How Money Corrupts Congress in the Future! Harvard Professor Lawrence Lessig Wants to Save the Republic
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- Future Predictions: Dollar Dropped 4.8% in April, Down 8.4% Since 1/1/11, Chinese Yuan May Become the Reserve Currency by 2013
- Future Predictions: China “hard landing” after 2013 said Nouriel Roubini