Disclaimer: I do not know very much about American politics so I have kept this post short and sweet and l extracted a useful metaphor ‘resolve your fiscal cliff’. Loosely translated into fix anything that is bad for your ‘economic’ well being before the New Year, readjust your aspirations, dreams or relevant career goals. For those who watch the day time ITV show Countdown, ‘fiscal cliff’ translates into figure out that ‘conundrum’ in your life (gives me so much joy when I visualise the 9 letter word, a Countdown app is available for those who want to scramble just letters and not life for now).
Timing is a crucial factor in politics and political legislation. Before 2013, the US senate will deliberate on the fate of tax payers. President Obama is fighting hard to protect tax payers who earn below $250,000 from the higher tax rates, this is my over simplistic analysis of the situation. However there has to be more revenue generated to sustain The United States, in addition to severe spending cuts there has to be huge taxes impositions to make the books balance better in 2013 and beyond. I promise to study the outcome of the deal when it is published and dedicate a post to it.
American politics always makes me think about matters close to my heart in Nigeria. Why did the Nigerian Senate not sit and deliberate about a bill that would determine the fate of the Nigerian economy in 2013? Instead they thought it would be too arduous to spend the last few weeks of the year discussing the Petroleum Industry Bill, and have carried the chaos over the cliff.
2013 has happened for some already, in the last few hours think about the ‘fiscal cliff’ in your life, and strategise how to get over it.
Happy New Year!! Thank you all so much for encouraging me to write; prepare yourselves to read more in 2013!!