Tuesday, November 13, 2012

Can the talking heads please stop yelling "fiscal cliff"?

Can the talking heads please stop yelling "fiscal cliff"? It is completely uninformative and misleading. A 'cliff' implies that we crash. We won't crash. We will contract, i.e. another recession. 
Let's use another name for it that's more understandable, informative and precise. How about "Austerity Deadline" - If a deal cannot be reached on our deficit by the deadline then austerity measures will be put in place. 
Enough of the hyperbole!