Fiscal Cliff and YOUR Next Pay Check (rough version, needs editing)

http://money.cnn.com/2012/12/14/pf/taxes/fiscal-cliff-paychecks/index.html?hpt=hp_t2

"Fiscal cliff indecision leaves paychecks up in the air

The article, naturally, is above.  Here is the quandry that we are dealing with as I see it at the moment.  Obama and Dems are loathe to cut entitlements, and GOP are loathe (for the most part to raise taxes).  This is the pragmatic issue at the moment.  The real problem is, Obama can't raise taxes enough to make a serious dent in this problem - which essentially a DEBT to GDP ratio issue..(.we have WAY too much debt relative to our National Annual Worth).  The top 25% income earners are already paying about 84% of ALL Federal Income taxes; what, are we going to make them pay 88%, 90%, 100%?  Obama etc., are acting and talking as if ALL of this Fiscal Cliff  issue rides on TAXES, as if this THIS is the primary issue - such is NOT the case.  Govt spending is the REAL problem, and the only way to REALLY address this is to cut back.  Yes, some increase tax revenue won't hurt and could potentially take some of the "edge" off the pain of cutting, but really, somewhere around 80% of the problems lies in spending.  The American public seems to have a very vague sense of this, but not enough to REALLY grasp the gravity of  the problem and thereby "see" the main solution lies with LESS "outlays" from Uncle Sam.  

Part of the problem then is, the public wants to have its cake and eat it too.  Somehow, Obama etc.,  would be best served educating the public on the realities pertinent to this - that cutting or modifying how the social programs are managed (making these the states' responsibility for example) - and more taxes, are essentially a small part of the solution.  My best bet at the moments says, NO REAL Fiscal Cliff solution will be a reality before the end of the year - but rather - yet another short term fix, with hopes of coming up with a REAL long term solution some time after the year.  The downside to this, our national credit rating will likely take another "hit" - and the economy at large will continue to struggle; Ben Bernanke is already on record saying we are "taking hit" now due to the mere "uncertainty" of what will happen.  If uncertainty causes "downside", indications that Washington is struggling like heck to REALLY find a long term solution will only exacerbate matters.  S&P is already on record that the "congressional dysfunction" is part of their reason for downgrading us in the 1st place; Uncle Sam NOT coming to a LONG TERM agreement that is considered "acceptable" by the end of 2012 does NOT bode well for our future credit rating.  One would be rather foolish to expect the Stock Markets to NOT take notice either; put better perhaps - the credit agencies will not be the only ones taking notice of these problems :(