By the time President Obama walked off the stage at Chicago’s McCormick Place after delivering his acceptance speech early Wednesday morning, pundits already were screaming HERE COMES THE FISCAL CLIFF!
And while it might have been a nice idea to take a collective breath after such a divisive election season before new screeching began, the pundits were not wrong.
Be warned: The Fiscal Cliff approaches. On Jan. 2, 2013, to be exact.
Now, I am many things, but an economist (or even a person remotely comfortable with numbers) is not one of them. So let me explain to those of you who are like me, in the simplest terms possible, what this proverbial cliff is all about.
In the wake of the debt ceiling crisis last summer, Congress and President Obama agreed to enter into negotiations to enact a 10-year deficit reduction package in excess of $1.2 trillion.
If an agreement could not be reached, a mandatory, across-the-board reduction in spending (also known as “sequester” or “sequestration”) would occur. All discretionary and entitlement spending -- with a few exceptions -- would be subject to sequestration....
Under sequestration, the U.S. foreign aid that has made such a tremendous difference in Ethiopia and in the lives of countless millions of desperately poor Africans (and others) is in grave jeopardy.
Yes, it's odd, having a rock star here—but maybe it's odder for me than for you. You see, I avoided religious people most of my life. Maybe it had something to do with having a father who was Protestant and a mother who was Catholic in a country where the line between the two was, quite literally, a battle line. Where the line between church and state was… well, a little blurry, and hard to see.
I remember how my mother would bring us to chapel on Sundays… and my father used to wait outside. One of the things that I picked up from my father and my mother was the sense that religion often gets in the way of God.
For me, at least, it got in the way. Seeing what religious people, in the name of God, did to my native land… and in this country, seeing God's second-hand car salesmen on the cable TV channels, offering indulgences for cash… in fact, all over the world, seeing the self-righteousness roll down like a mighty stream from certain corners of the religious establishment…
I must confess, I changed the channel. I wanted my MTV.
Even though I was a believer.
Perhaps because I was a believer.
~ Bono of U2, in his 2006 National Prayer Breakfast keynote address