Everyone seems to agree that it’s long past time for our nation’s leaders to come up with a plan to avoid the “fiscal cliff” of massive tax increases and spending cuts set to take effect next year.
We agree, that is, until we start talking specifics.
A coalition of business groups, for example, says it’s all for cutting spending, but it says raising tax rates is out of the question.
The homebuilding industry wants a deal, too, but it says it won’t tolerate even a small drop in the mortgage interest deduction, even as part of a broad, spread-the-pain package designed to tame the soaring debt.
And the American Association of Retired Persons says it’s absolutely against any cuts to Medicare and Social Security. The organization opposes the notion of slowing the cost-of-living formula for Social Security recipients, even if it’s part of a big, bipartisan compromise, and it says President Barack Obama ought to forget about the idea of raising Medicare’s eligibility age.
So much for the notion of shared sacrifice.
Congress and the White House face a Dec. 31 deadline to come up with a far-reaching deficit-reduction plan. If they fail, the government tips over the so-called fiscal cliff. Nearly everyone’s taxes will go up, and federal programs will be slashed.
Economists say the effect might mean another jolt to financial markets and maybe even a new recession.
In spite of the threat, the various interests seem far from settled on a solution.
An Associated Press story reports that it’s virtually every group for itself in Washington these days. Everyone’s scrambling to protect every penny of every tax break and government payout it now enjoys. It notes that the old adage, “Don’t tax thee, don’t tax me, tax the man behind the tree” was never more in vogue.
We all agree on the wisdom of compromise when we’re talking in the abstract, but when the talk turns to specific ideas that run counter to philosophies or bottom lines, we get a little less flexible.
Maybe it’s just too early to start thinking about making a deal. The big deadline, after all, is still more than a month away.
Still, it’s troubling to hear the talk on Sunday morning news programs that going over the proverbial cliff might not be so bad after all.
It’s time to start taking this threat seriously. It’s time to find a solution.
Opinion
OUR VIEW: Time to solve nation's fiscal crisis
- Opinion
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- THORNS & ROSES: Week of May 16
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WOLFSIE: Writing on the walls
Sometimes when I am trying to think of an idea for my column, I just stare at the wall. That’s not a bad thing, because on the wall in my home office is a collection of special pieces of memorabi-lia that inspire me to write, reminding me of the talented people I have had the privilege to meet.
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HAYDEN: From good to great in education not the way
On the campaign trail last year and early into his administration, Indiana Gov. Mike Pence said repeatedly that his goal as governor would be to take Indiana from “good to great.”
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THEIR VIEW: Big Brother looms large in D.C.
The federal government, working under the cloak of secrecy, has been having a heyday at the expense of all Americans.
First we learn the IRS has been targeting conservatives — applications for tax-exempt status by tea party groups were wrongly singled out for extra scrutiny. -
KITCHELL: Waste-to-energy a big waste of time
Had all of Logansport attended the Indiana Society of Professional Journalists Awards ceremony last month in Indianapolis, we all would have learned that the No. 1 editorial written in the state in the past year was about a subject that sounds familiar to Logansport residents.
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THEIR VIEW: Keep teens safe on the roadways
Indiana was able to achieve welcome decreases in teen-driving deaths after adopting graduated driver’s license laws. But it appears some of the benefits of easing teen drivers more slowly into the responsibilities associated with driving are leveling off.
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MARCUS: Where to put your money
Snail Smith’s real name is Stanley, but his contorted windup and slow pitches gave him the nickname, Snail, during his short baseball career.
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THEIR VIEW: Indiana loses a respected leader
At a time when our nation was deeply divided by war, social upheaval and political corruption, Otis R. “Doc” Bowen brought stability to Indiana in his eight years as governor largely through the strength of his personal integrity. He was respected, revered even, not only by fellow Republicans but also by independents and Democrats for his deep commitment to the state and its people.
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OUR VIEW: Mothers the greatest gift of all
Our mothers help guide us through the world around us, helping us sidestep disaster if at all possible. She holds our hand as we become the person we were meant to be. She knew us from the beginning, and if she had it her way, she’d know us to the very end.
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PUBLIC FORUM: Mayor tells residents of positive change
When the residents of Logansport elected me as their new mayor in November 2011, it was truly an honor.
Our city was battling back from a devastating loss of 1,500 jobs in five years, a recession that wasn’t letting up on the household income of our residents, a divided fire protection commitment in our county and an overall sense of loss in our community. - More Opinion Headlines
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