Today’s Washington Post article, which cites a speech delivered by Sen. Patty Murray (Wash) where she indicated that her party is willing to allow the U.S. to go over the fiscal cliff, is yet another sign of Washington dysfunction. Politicians must uphold their promise to implement policies that will improve the business climate and drive our economic recovery – instead we see unnecessary ultimatums and demagoguery that bring us closer to the impending fiscal cliff.
We are seeing the effects of this political posturing as optimism among manufacturers continues to slip in a recent NAM/IndustryWeek Survey. A weakening in the manufacturing sector will mean a slower economic recovery and perhaps another recession. At a time when our economy is attempting to emerge from a recession, manufacturers need certainty from the tax code and federal budget.
The prosperity of all Americans hinges on Washington acting quickly to avoid the looming fiscal cliff at the end of this year. These explicit threats further add to the economic uncertainty and prevent businesses from being able to grow the economy and create jobs. The economic security of the United States must take precedence above all else – especially the political agendas of either party.