WLOX Editorial: The "fiscal cliff" - WLOX.com - The News for South Mississippi

WLOX Editorial: The "fiscal cliff"

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Now that the elections are over every day you will hear or read something about the "fiscal cliff" our country faces. It's nothing new, but our leaders in Washington of both parties have been too busy with their own elections to focus on this looming crisis.

At the end of this year, several tax cuts and tax breaks are due to expire. That will mean higher taxes for many, and according to some, could send our country into another recession. In addition, spending cuts already passed by Congress to start reducing our deficit are scheduled to go into effect.

When those cuts happen, you can expect deep reductions in defense budgets and medicare to name just two federal agencies.

So, what can prevent the U.S economy from falling off this financial cliff? Both parties must be willing to do something often missing in Washington. Compromise.

Congress and the President must act quickly. Many businesses have already slowed their expansion plans waiting to see what happens.

You can take action now. You can call 1-866-220-0044 and urge Congressman Steve Palazzo and Senators Thad Cochran and Roger Wicker and to put politics aside and work for the good of all and country's future.

Americans have already suffered enough in this economic downturn and we don't need another setback because our elected leaders fail to do their jobs.

That's our opinion, we would like to hear yours. Email your thoughts to editorials@wlox.com, or post your comments below.

David Vincent
WLOX-TV General Manager

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