"Perfect Storm" Clouds on the Horizon

The world of crazy weather gave us a brutal hurricane in Sandy last month where a hurricane combined with a nor'easter to wreak havoc on the east coast.  Called the "perfect storm" this term comes from the Sebastian Junger novel of the same name made into a famous movie starring George Clooney.

In less than one week after the 2012 Presidential Election, the country has turned it's eyes to the "fiscal cliff" that stares down the country on January 1st, 2013.  It is a combination of spending cuts and taxes increases that are supposed to take place in the first quarter of the year.  Many economists believe this will have unemployment back up over 9% along with triggering a recession.

This is the federal part of the storm and no matter what side of the aisle you are on, one has to a balanced approach to taxes increases and spending cuts.  It like trying to conduct a major league baseball game without balls or fans. 

Here in good old Pennsylvania, the General Assembly and Governor ignored the coming pension crisis and instead worried about keeping people from voting. In 2013, most public schools are facing budget shortfalls including my district which is staring down a 3 million dollar deficit. 

A possible contribution to future revenue shortfalls for PA, HB2626 was fast tracked in the General Assembly.  From introduction to the governor's desk, it took less than two months.  Here is the reason for the warp speed bill.

This is why it is bad for the taxpayer.

The electorate would like you to believe that we are spending too much when they are actually creating their own shortfalls.  Yes, we would like to have Oracle move some jobs to PA and take advantage of workforce.  No, we don't want Oracle to move jobs to PA and take advantage and dupe the taxpayer.

Hold on to your checkbooks in 2013