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US fiscal cliff averted

As media (such as the Guardian) has reported, the US House of Representatives have passed a deal to increase taxes for the wealthy, while sparing the working and middle classes from further financial burdens, thus averting the fiscal cliff.

Should we be surprised that the US Congress reached the deal (albeit a tad into the new year, 2013) ? Maybe not. Politicians (Republicans included) do not want to be seen as unable to manage the situation. Meanwhile, it would have been politically unstrategic to give in too soon to Barack Obama (i.e. too many hours ahead of the new year). So now, politicians (especially Republicans who have been staunchly opposed to increased taxes for the wealthy) can appear to be helping out, but only at the very last minute. That’s political tactics for you!


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