Fiscal Cliff

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Does U.S. Debt Ceiling Debate Compromise Citizens' Money Morals?

The U.S. debt was $1-trillion in 1982, and at $12.1-trillion just four years ago. It's now at $16.7-trillion and needing to be raised on Oct. 17th, or the country will be unable to pay its bills and will default on debt payments. This sends a clear message to a debt-ridden populace: that their own government doesn't even take debt that seriously.

Canada Take Note: America's Tax System Is Messy But Good

Of course, the U.S. is not a paragon of virtue and has gotten itself into a big fiscal mess, due to panic over 9/11, the 2008 debacle and unjustifiable tax cuts and wars paid for with a national credit card. But this week, after two years of haggling, illustrated that a system of checks and balances eventually imposes discipline by forcing the public and politicians to engage fully in financial decisions.
AP

Why Robots Should Run Our Finances in 2013

The Artificial Intelligence Laboratory at the University of Zurich announced that the world's first "humanoid" robot will be "born" in March. It's an incredible achievement, but overshadowed by the fact that "Roboys" are not yet running our governments, programmed for fiscal responsibility in order to fix our finances.
AP

How Canucks Avoided the Fiscal Cliff

In a few days the "fiscal cliff" deadline will arrive and potentially bring massive automatic spending cuts and tax increases to the U.S. Even if Congress and the President agree to avoid the cliff, the next crisis awaits. It has long been said that when the U.S. sneezes, Canada catches a cold. So why have these debt-related ailments in the U.S. not afflicted the Canadian government? The answer is that Canada has been practicing what the U.S. always preached. That is why we Canucks are not jumping off cliffs or smashing into ceilings.

Fiscal Cliff? More Like Cold Shower

America's day of fiscal reckoning has been postponed because of the rise of the Tea Party anti-state movement. Fiscal "cliff" is the wrong metaphor. What's about to happen is not the end of the world, as falling off a cliff would imply. A better metaphor is America is about to head into a "fiscal cold shower."

Why Fiscal Cliff Panic Is Overblown

Parkinson's Law, in its original form, states that "work expands so as to fill the time available for its completion." This was a humorous attempt at mathematically describing the rate at which bureaucracies expand over time -- the consequence of which is something that Washington is now dealing with. Hence the mania over the so-called "fiscal cliff" as the clock is ticking towards the January 1st and 2nd deadlines.
CP

Talking To Americans..

Time is of the essence for U.S. lawmakers to agree on a credible plan to reduce its government deficit over time, Finance Minister Jim Flaherty said Friday.Flaherty told a New York audience of the For...
Alamy

Will the U.S. Pull us All Over its Fiscal Cliff?

The U.S. economy is careening toward the so-called fiscal cliff at a frightening pace, and it's creating a lot of concern. Will political sclerosis drive America -- and the world -- to the precipice? If it did, it would be a shame. Consumers are spending at a rapid clip. Housing markets have turned the corner. Is the present whiff of recovery incentive for action?
CP

Fiscal Cliff Poses 'Immediate Risk'

MONTREAL - Bank of Canada governor Mark Carney says the so-called fiscal cliff looming over U.S. lawmakers is the most imminent threat facing the Canadian economy.Carney, speaking in Montreal, said th...
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Can This Friendship be Saved?

The two best kept secrets in Washington are the degree to which Canadians have been rooting for a post-election American economic turnaround, and the extent to which that turnaround is dependent on removing the barriers to trade with the United States largest export market, Canada. Will Obama lead America there?
CP

G20 To Address U.S. 'Fiscal Cliff'

Finance ministers from various G20 countries are meeting in Mexico City today to discuss pressing economic issues as the world's largest economy — the U.S. — prepares to elect its next president. Off...
TYF

Keeping Canada Away From the Fiscal Cliff

When Canada's annual budget deficit came in bigger than expected at $26.2 billion recently, the news didn't spark a sell-off in the markets or an emergency debate in parliament. But that doesn't mean Canadians should be complacent about balancing the budget. As taxpayers, we need to keep our politicians focused controlling costs, keeping taxes affordable, and balancing budgets -- the straight and narrow path that leads us far away from the fiscal cliff.