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Fiscal cliff

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The deadline for the US budget sequester —which will see across-the-board spending cuts of $US 85 billion implemented over the fiscal year — is rapidly approaching. AAP

No silver lining to US budget sequester

The first thing you should know about the sequester is that nearly everyone agrees that it’s a bad idea. In fact, that was the point. In the summer of 2011, with congressional Republicans refusing to raise…
By opting for restraint in his state of the union speech, Obama presented his ideas not as bold initiatives to revive the liberal tradition, but as pragmatic proposals with widespread bipartisan support. EPA

Obama extends a light hand of liberalism to Americans

Barack Obama opened his fourth state of the union address to Congress with words from another Democratic president, John Kennedy: “The Constitution makes us not rivals for power but partners for progress…
It may seem like an idea with currency, but miinting a trillion dollar coin to sidestep the debt ceiling is a fabricated solution to a fabricated crisis. Wikimedia Commons

The trillion-dollar coin: change Americans can believe in

In the midst of genuine economic and political challenges, Tea Party Republicans have been hard at work generating additional problems. From the debt-ceiling showdown that cost the US its AAA credit rating…
Billionaire US investor Warren Buffett pays less tax than his secretary - but Australia has its own anomalies. AAP

Is it time for Australia to tackle its Warren Buffett-style tax anomalies?

In his 2012 State of the Union address US President Barack Obama lamented the fact that billionaire Warren Buffett faces a lower tax rate on his income than his secretary. The situation arises because…
Resolving the US' fiscal cliff through taxation reform will prove challenging for the President. AAP

No clear resolution for the US fiscal cliff

When President Obama took office in 2008, there was little time for rest or reflection. The economy was in freefall and immediate action was required. This time around, the situation is not so dire. But…
Without serious, structural fiscal reforms — which require bipartisanship and compromise — the US economy could go into free fall. Bungee jump image from www.shutterstock.com

Is the US set to jump off a fiscal cliff?

As we check our political calendars, many look to November 6 as the crucial date that will determine the future direction for US politics and the nation’s ailing economy. But in policy terms, it is January…

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