Fiscal cliff dangerous for Kansas City area
The Kansas City Star
Kansas City area residents should all hope that Congress and the president resolve the fiscal cliff problem in the next two weeks.
If they don’t, the problem could zap 41,000 area jobs, according to a Greater Kansas City Chamber of Commerce forecast released Friday. Perish any thought of just letting the automatic government service cuts take place in January in addition to the Bush/Obama tax cuts expiring.
The consequences would be dire in this area and throughout the country. A recession is likely that would rival what Europe has been experiencing this year.
Those are not happy possibilities to carry into the holiday shopping season, which is when retailers’ sales are supposed to be at their peak for the year. If already leary consumers think the nation might tumble off the fiscal cliff, they may refrain from spending much for the holidays, which would worsen matters for the country economically.
Congress and the president for that reason alone should try to resolve the problem before the Thanksgiving holidays.