Congress acted slightly after the last minute tonight, with the House voting to approve legislation to avert the so-called fiscal cliff. Taxes will not go up on families earning less than $450,000. But the whole point of the “fiscal cliff” was so that Congress would be pressured into dealing with the long-term deficit. Which they did not. They just kicked the can slightly down the road to the next budget, just a few months away.
Yeah, that’s right, we get to go through this again and again.