Locals ready to throw Congress over the 'fiscal cliff'

By: Ryan Houston Email
By: Ryan Houston Email

News 12 at 6 o'clock / Monday, Dec. 31, 2012

AUGUSTA, Ga. -- Even without a vote planned, President Obama says Congress is close to making a deal. Congress has until midnight to reach an agreement.

The people we talked to are not worried about those automatic cuts and higher taxes. They want Congress to stop fighting and handle it.

"Now how the hell hard could it be? If someone wants $400,000 and somebody else wants $250,000, we settle on $300,000," said Financial Planner Joe Lafauci.

In the recent weeks, there has been lots of talk about tax increases, spending cuts and the "fiscal cliff."

"People are not investing right now because of fear of the 'fiscal cliff,'" Lafauci said.

Lafauci has worked as a financial adviser for years. He says this talk about looming tax increases and huge federal spending cuts is just talk.

"It is not a day goes by that we don't hear about the 'fiscal cliff.' Then we have this countdown clock going on," he said.

Others on social media and around town share his thoughts.

"It's really just government tinkering. They'll work something out one way or the other," said Harry Mercer.

Your tax returns will come back later than normal if a deal is not reached. Billions of dollars in transportation will be cut, which means higher fares.

Millions of people on long-term unemployment will lose their benefits if Congress doesn't reach a deal.

Meanwhile, people seem ready to toss Congress over that same cliff.

"This is just a bunch of politicians who can't seem to sort themselves out," retiree Michael Hollister said.

"They don't represent the people. They don't seem that concerned about the people, " said construction worker Edward Patterson.

"If we go over the cliff, then we're going to have to pay down some of the debt earlier rather than later," Lafauci said.

Click here to figure out the effect on your taxes using the Tax Policy Center calculator.


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