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You may recall the old Looney Tunes and Merrie Melodies cartoons in which Wile E. Coyote was pursuing the Road Runner. Those ACME products never seemed to do the trick for the poor coyote, who would end up bounding off exaggerated red-rock cliffs and hanging in mid-air. Cartoon physics would eventually bring him down, but he would always survive.
Compare that to the fiscal cliff looming over the U.S. government right after the 2012 presidential election. Congress faces an end-of-the-year deadline to address spending cuts, Bush-era tax cuts, other tax breaks and the so-called process of sequestration. Automatic across-the-board spending cuts could trigger at the beginning of 2013 if Capitol Hill fails to create a deficit-reduction plan.
CNN's story drew nearly 8,000 comments from readers. Sleestak Lightning's colorful cartoon reference asks an interesting question: "Which party is the roadrunner and which is the coyote?"
Do you agree with the Looney Tunes comparison? What do you think needs to be done? How much does the fiscal cliff concern you? Share your thoughts in the comments area below or post a video on CNN iReport.
The motivation of the last 2 years by the GOP to stop Obama from getting a second term is now moot. This should enable Congress to negotiate a deal and , even if it favors Obama's wishes, if it doesn't work it can be used in 2016 against the Dems. However, I must wonder if those GOP Members of Congress who signed Norquist's pledge are loyal to him first or those who elected them to do a job !!!!
Coincidence? Obama lost in every state with a photo ID law any investigation by CNN or do you ignore any bad news about your annointed 'one' Obama – was the election stolen ???
seems like Romney won in reality.
Sure the combination of tax increases and reduced government spending will have a negative impact in the short-term, but what about the long-term fiscal health of the United States? Isn't this exactly what is needed to get back the AAA rating for our US Treasury bonds?
Even with tax increases, I'm confident there will still be long-term sustainable growth in the US economy. We must have faith in the American entrepreneurial spirit. No doubt this will further the recession for the next few years, but where will we be 5, 10, 20 yrs from now? The US will be in much better fiscal health than what we are now.