www.mozilla.com Weather Central
Voices
Headlines

Surprise, surprise, surprise -7/31/2014, 10:12 AM

Medicaid expansion a win-win for Kansas -7/31/2014, 10:12 AM

Term limits are first step -7/31/2014, 10:12 AM

Vote for what's right -7/31/2014, 10:12 AM

The next governor -7/31/2014, 10:12 AM

Shultz is the pick -7/31/2014, 10:11 AM

Eyeing the children -7/30/2014, 9:01 AM

Speak from the heart -7/30/2014, 9:01 AM

Changing attitudes -7/30/2014, 9:01 AM

Time to replace Huelskamp -7/30/2014, 9:00 AM

Water vision -7/29/2014, 9:48 AM

No longer a supporter -7/29/2014, 9:47 AM

The power of punctuation -7/29/2014, 9:47 AM

Running for the wrong bus -7/28/2014, 9:04 AM

Old Old Mexico -- Culture and content -7/28/2014, 9:03 AM

The defining issue of economic recovery -7/27/2014, 4:53 PM

In a world of sectarian violence, what can be done? -7/27/2014, 4:53 PM

Funding DHDC -7/27/2014, 1:18 PM

Endorsement for Shultz -7/25/2014, 3:28 PM

Against the wind -7/25/2014, 4:23 PM

Do blacks need favors? -7/25/2014, 4:23 PM

Vote Huelskamp out -7/25/2014, 4:23 PM

Open meetings -7/24/2014, 8:07 AM

Leadership change needed -7/24/2014, 8:07 AM

Vote for Huelskamp -7/24/2014, 8:06 AM

Protecting unborn children -7/24/2014, 8:06 AM

Learning experience valuable -7/24/2014, 8:06 AM

False equivalence -7/23/2014, 8:07 AM

Measles' scary comeback -7/23/2014, 1:27 PM

The 'big data' deal -7/23/2014, 10:07 AM

GOP can't get out of its own way -7/23/2014, 10:07 AM

War only will add to Middle East problems -7/22/2014, 8:10 AM

Avoiding taxes -7/22/2014, 8:10 AM

Take the win in Iran -7/21/2014, 8:57 AM

The high court's high-handedness -7/21/2014, 8:57 AM

Up in arms in the Capitol -7/20/2014, 4:52 PM

Firefighters weigh in on pay raise -7/20/2014, 4:52 PM

Backpacks for Kids -7/20/2014, 4:52 PM

Our unwillingness to defend ourselves -7/18/2014, 10:51 AM

Remembering a man who championed freedom -7/18/2014, 10:51 AM

GOP split -7/17/2014, 8:38 AM

New Kansas senator -7/17/2014, 8:37 AM

Who'll build the roads? -7/17/2014, 8:37 AM

Time to retire -7/16/2014, 2:20 PM

Reagan: In or out? -7/16/2014, 2:45 PM

'Unbroken' WWII vet more than a hero -7/16/2014, 2:44 PM

Savor the fruits of your labor -7/16/2014, 2:44 PM

Erasing candidate's standards -7/15/2014, 11:36 AM

Returning to Trail Wood -7/15/2014, 10:13 AM

Leaving some in 'suspense' -7/15/2014, 10:13 AM

Strangers in a remarkable land -7/14/2014, 9:11 AM

Courageous or spineless? Our actions decide -7/14/2014, 9:11 AM

Ambition: An unlikely gift to Kansas voters -7/13/2014, 11:16 AM

Beyond the outrage -7/13/2014, 11:16 AM

Water watch -7/13/2014, 11:16 AM

Scenic outlooks -7/11/2014, 9:18 AM

China's research trumps teaching -7/11/2014, 9:17 AM

Important slow news -7/10/2014, 9:42 AM

We've got a promise to keep -7/10/2014, 9:33 AM

The white combine calls -7/9/2014, 10:02 AM

Vote for family values -7/9/2014, 10:02 AM

Politicians making a mockery of my faith -7/9/2014, 10:02 AM

Missing tribute -7/9/2014, 10:02 AM

Rural students deserve 21st Century education -7/8/2014, 9:10 AM

The education table dance -7/8/2014, 9:10 AM

A new virus -7/8/2014, 9:10 AM

Government as God -7/7/2014, 9:38 AM

EPA affecting others -7/7/2014, 9:38 AM

'Narrow' decision from the narrow-minded -7/7/2014, 9:38 AM

The tax trap -7/6/2014, 4:35 PM

Rulings produce 'First Amendment fireworks' -7/6/2014, 4:35 PM

Firefighter salaries -7/6/2014, 4:35 PM

Economic freedom -7/4/2014, 11:54 AM

Protecting our independence -7/4/2014, 11:54 AM

Dan Johnson, 1936-2014 -7/3/2014, 7:12 AM

New Iraq offensive backfires -7/3/2014, 7:11 AM

Setting things straight -7/3/2014, 7:11 AM

'Crapitalism' -7/3/2014, 7:11 AM

Feeding peace throughout the world -7/2/2014, 9:01 AM

Half way is still only half way -7/2/2014, 9:01 AM

Sherow a better choice -7/2/2014, 9:01 AM

Fireworks, part II -7/2/2014, 9:01 AM

Reality show made in Topeka -7/1/2014, 8:53 AM

The justices and their cellphones -7/1/2014, 8:53 AM

LOB defeated -7/1/2014, 8:53 AM

Tragedy explored in 'Broken Heart Land' -6/30/2014, 9:14 AM

Mexico City: The adventure continues -6/30/2014, 9:14 AM

Even our youngest Americans are citizens -6/29/2014, 12:58 PM

Ban on fireworks -6/29/2014, 12:58 PM

It's time to teach active citizenship -6/29/2014, 12:57 PM

The education establishment's success -6/27/2014, 10:39 AM

Piecework professors -6/27/2014, 10:39 AM

Marriage for all -6/27/2014, 10:39 AM

Prairie chicken madness -6/26/2014, 4:17 PM

Omission control -6/26/2014, 10:12 AM

Equal in the eyes of the law -6/26/2014, 10:12 AM

Help wanted -6/26/2014, 10:12 AM

The old red barn -6/25/2014, 9:19 AM

Beware the unimaginable -6/25/2014, 9:19 AM

Early critic of school testing was right -6/24/2014, 8:53 AM

myTown Calendar

SPOTLIGHT
[var top_story_head]

Cliff avoided

Published on -1/3/2013, 10:24 AM

Printer-friendly version
E-Mail This Story

The United States has avoided going over the fiscal cliff, thanks to Congress' ability to find the least possible amount of common ground at the last possible moment. On New Year's Day, the House gave lukewarm passage to a bill that prevents large income tax increases for the majority of Americans. Some 21 hours earlier, the Senate had done the same although by a clearer margin.

We will, in turn, offer the barest minimum of praise to the nation's elected leaders for not purposefully throwing the economy back into recession -- which likely would have happened without a deal.

For the 151 Republicans and 16 Democrats who voted against the measure: What were you thinking? That sending international markets into turmoil and raising taxes was preferable to whatever principle you were guarding? That after two years of bitter standoffs, sequestration and partisan wrangling you suddenly thought compromise was possible the day after the deadline? For shame.

By not going over the cliff, Americans will be able to keep approximately $500 billion in their own pockets instead of sending it to Uncle Sam. Only 0.7 percent of the wealthiest citizens will see their income taxes increase. The Bush-era tax cuts were made permanent for those individuals making less than $400,000 and couples under $450,000. Tax rate brackets are now locked in place for income derived from salary as well as dividends and capital gains. The alternative minimum tax finally has inflation pegged to it and many individual and business tax credits will not need to be voted on every year. Designed to bring certainty to the tax code, all of these moves were long overdue.

The bill, which President Barack Obama signed Wednesday night, also prevented $109 billion in across-the-board cuts to defense and domestic programs that were scheduled to take place this week. The so-called sequestration Congress had imposed on itself to reduce deficits by $1.2 trillion over the next 10 years was avoided.

In short, the watered-down deal gave confidence to Wall Street and international markets. It also prevented credit rating agencies from downgrading the nation's debt load. We reiterate that to have allowed either of those events to take place would have been shooting the economy right in the head. Irresponsible wouldn't begin to describe our elected leaders if that had happened.

But we shouldn't get too excited about the deal either. It will, after all, add $4 trillion in new debt over the next decade. That figure should surprise only those conservatives who long have argued that tax cuts don't have a cost. Yes, they do.

As for reigning in spending on entitlement programs, nothing happened. The proverbial can has been kicked down the road -- and not very far. These talks will start in earnest almost immediately after the 113th Congress is sworn into office, as the debt ceiling will need to be raised again just to pay for items already approved.

And most Americans will see their federal tax obligations go up right away. By concentrating on the income tax rates, Congress and the White House neglected to extend the 2-percent temporary reduction in Social Security payroll taxes. For the past two years, a family making $50,000 a year was able to keep an extra $1,000 annually to spend as they chose. No more. As a result, almost 80 percent of the working public will pay more in overall federal taxes this year than in 2012.

The cliff was avoided, but virtually all the hard work remains. We hope member of Congress will dedicate themselves to solving real issues rather than mere posturing for their next re-election bid.

Editorial by Patrick Lowry

plowry@dailynews.net

digg delicious facebook stumbleupon google Newsvine
More News and Photos

Associated Press Videos