Steer Clear of the Cliff

How to avoid imminent fiscal disaster and long-term decline.

by Pete du Pont

Source: The Wall Street Journal

While we will certainly witness a vigorous debate between now and November about the proper roles of the federal government, there should at least be agreement that two of its primary ones are encouraging a strong economy and ensuring a robust national defense.

Unfortunately, unless President Obama and Congress come to some kind of agreement before January, our nation will find itself face-to-face with a destructive combination of large tax increases and mandated spending cuts that will do much harm to both our economy and our military preparedness.

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