Fiscal Cliff deal in sight

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A deal to avoid the fiscal cliff is in sight, we're saved! By RD Varnon

Senate leaders and the President claimed to have seen the shadow of a deal to prevent America from plunging off the fiscal cliff.

But then everyone realized it just means we’ll have six more months of gridlock. (It’s a joke based on the ground hog seeing its shadow.)

AP reported just after 4 p.m., Congress will not be able to meet the midnight deadline to vote on the deal. Whoops.

Anyway, the initial deal discussed appears to extend unemployment benefits beyond the 26 weeks, which could mean 43,000 Connecticut residents will still get payments next year.

And taxes will go up on families making in excess of $450,000 a year, which will hit Fairfield County pretty hard.

And there are plenty of issues still to be worked out that will ultimately act as a drag on the national and local economy, including defense and social program cuts. This year alone, the plan called for more than $56 billion in defense cuts alone.

Until more is known, enjoy your New Year, let’s hope 2013 is better than 2012.

Rob Varnon

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