Fiscal Cliff Note

Politicians in Washington DC, acting as politicians always seem to, have all but agreed to raise taxes and to do nothing about excessive spending;

"I personally hate it," Rep. John Campbell of California, said of the measure, giving voice to the concern of many Republicans that it did little or nothing to cut spending.

"The speaker the day after the election said we would give on taxes and we have. But we wanted spending cuts. This bill has spending increases. Are you kidding me? So we get tax increases and spending increases? Come on."

House Majority Leader Eric Cantor told reporters at one point, "I do not support the bill. We are looking, though, for the best path forward."

Within hours, Republicans abandoned demands for changes and agreed to a simple yes-or-no vote on the Senate-passed bill.

Which is a good time to revisit one of the classic economics lessons (probably the best one);

A man and his wife owned a very special goose. Every day the goose would lay a golden egg, which made the couple very rich.

      "Just think," said the man's wife, "If we could have all the golden eggs that are inside the goose, we could be richer much faster."

      "You're right," said her husband, "We wouldn't have to wait for the goose to lay her egg every day."

      So, the couple killed the goose and cut her open, only to find that she was just like every other goose. She had no golden eggs inside of her at all, and they had no more golden eggs.

That is what you can expect when people who have no understanding of how wealth is created, have a bright idea.