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November 23, 2012 at 6:00 AM

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Avoiding the "fiscal cliff" through compromise

Reducing deficit also decreases GDP


Apparently The Seattle Times editorial staff does not understand the economic outcome of going over the so-called “fiscal cliff” [“Deal to avoid fiscal cliff,” Opinion, Nov. 19].

The editorial screeches from the rooftops that trillion-dollar deficits are not sustainable; that Congress cannot wait for full employment before addressing this issue. The editorial states unequivocally that revenue along with spending cuts must be part of the solution. These spending cuts should and must include cuts to the military.

Hello, this is exactly what happens under the fiscal-cliff scenario. Revenue increases from the elimination of the Bush tax cuts and spending is reduced (including military) due to the Budget Control Act of 2011. The end result is the deficit for 2013 is reduced by $500 billion and by $7 trillion over the next 10 years.

Now this action also decreases GDP by 0.6 percent, and may push us into a recession, but nowhere in the editorial does this seem to be a concern of the editors. So, could someone go back to the editorial staff and ask them to clarify the point of the editorial for me?

– Kevin Malone, Port Orchard



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