By the time you read this we may or may not know who the next president of the United States is. And to make matters worse we could likely have a team of lawyers fanning out across America to lodge various protests claiming an unfair voting process.
As most of us know whenever an attorney gets involved in anything the bills will be large and the process will be delayed by having a huge wrench thrown into the works.
That said, at some point in the next few days we will likely know the name of the next POTUS and for the sake of the country that name will be Mitt Romney. I think at least on this point I have made my position crystal clear!
Of course, as stated in the bold headline at the top, this will still leave the country with a group of the most useless and dysfunctional men and women ever to call Washington, D.C. home, still in office to do whatever it is that they do. Some for a while more and some for only a couple of more months.
Either way, from an article in MSN Money, here is an explanation of what we ordinary citizens who remain at the mercy of politicians face in the near-term in regards to the oft-mentioned fiscal cliff. God help us all!
"...The fiscal cliff
The first order of business will be for Obama, lame duck or not, to start negotiating with the lame-duck session of Congress on the fiscal cliff of tax hikes and spending cuts worth 5% of GDP that will hit Jan. 1 unless action is taken. Adding to the drama is the fact that the U.S. Treasury will hit its $16.4 trillion debt ceiling limit sometime in January or February.
Failure is not an option. Going over the cliff would result in a new recession, financial turmoil and more credit rating downgrades of the type that sent stocks careening last summer. But there are no easy answers, especially with the kill-or-be-killed blood sport that passes for bipartisanship these days.
As I explored in a recent column, the most likely outcome -- regardless of the election -- will be a "mini-cliff" package of budget cuts. Merrill Lynch is looking for a little more than $300 billion, with the makeup of the cuts dependent upon the victor next Tuesday.
Simply getting rid of the fiscal cliff by reversing planned tax hikes and spending cuts, would cause our national debt to explode. The bipartisan Committee for a Responsible Federal Budget believes the nation's debt held by the public would grow by an additional $7.5 trillion through 2022 -- an increase of nearly 70% over the next 10 years.
And because of the way more government debt damages the ability of an economy to grow, the longer we wait the harder it will be to create the wealth and prosperity needed to solve the problem..." (Source)
Be prepared for an emergency with stored food and water for your home!