Wile E Coyote On Our Financial Future

Now that we've solved the immediate problem of the impending fiscal cliff by having Congress do some random stuff at the last minute, I decided to ask an expert in cliff scenarios about his assessment of our longer term fiscal prospects.  In response, Mr Coyote provided his views via the video below which I'll share with you.

Mr Coyote's assessment is based upon his painstakingly detailed analysis taking into account yesterday's deal based upon the CBO summary of the current state of play:


On the bright side, I'm sure you will share my relief that along with making most of the Bush tax cuts permanent the fiscal cliff deal also includes sorely needed tax breaks for motorsports entertainment complexes, economic development credits for American Samoa and, most importantly for the growth of our economy, special expensing rules for Hollywood productions (meaning that certain expenditures can be immediately expensed rather than considered investments subject to depreciation).  So when you see that your favorite Hollywood star is being paid $10 million to star in Die Hard: Spiderman 7, The Return of X-Men 9 you can feel good that you helped pay for that!  I'm sure you can at least get an autographed photo in return for your contribution.