Editorial: Reality checkMain Street, USA may be ready for economic recovery after scaling back, working longer hours or making due. Unfortunately, the federal government is not ready.
Main Street, USA may be ready for economic recovery after scaling back, working longer hours or making due. Unfortunately, the federal government is not ready.
Congress and the president have us facing three more “fiscal cliffs” — automatic budget cuts, a potential government shutdown and maxed-out debt ceiling.
Just how bad is it? Congressman John Kline figures 4,000 Minnesotans will lose their jobs this spring, as reported in today’s paper. While this state is better off than others, everyone will feel the pain.
We suspect the average citizen doesn’t realize how dicey U.S. economics are right now. How many people, for instance, got caught short when their first paycheck of 2013 went down 2 percent? They didn’t know or forgot that President Barack Obama reduced individual contributions to Social Security two years ago in hopes of spurring economic growth. That executive order expired Jan. 1 of this year.
The time for tough decisions is overdue. We must get our financial house in order.