Don’t fear the fiscal cliff

Fri, 19 Oct 2012 11:45:00 +0000

For economy geeks, the New York Times headline on Aug. 6, "Fear of 'Fiscal Cliff' Has Industry Pulling Back," was a punch in the face. For anyone hoping a recovering economy would ease President Obama's path to reelection, the thrust of the article was positively chilling.

You didn't need to read past the opening paragraph to get the gist:

A rising number of manufacturers are canceling new investments and putting off new hires because they fear paralysis in Washington will force hundreds of billions in tax increases and budget cuts in January, undermining economic growth in the coming months.

"Everyone is sitting back and hunkering down," said Kellie Johnson, the owner of an aerospace company in Torrance, Calif.

The fear seemed justified. If Congress takes no action between now and Jan. 1, a massive package of tax cuts -- including those passed during George W. Bush's first term in 2001 and 2003, as well as an array of cuts orchestrated by Barack Obama -- will simultaneously expire. Extended unemployment benefits will run out, and drastic, brainlessly indiscriminate across-the-board spending cuts in both domestic programs and national defense will kick in.

Joseph Gordon-Levitt: Caught between two worlds

Tue, 17 Nov 2009 00:17:00 +0000

At the ripe old age of 28, Joseph Gordon-Levitt is simultaneously a showbiz old pro and one of the hottest young acting talents to emerge in this decade. When Gordon-Levitt played his first high-impact dramatic roles in edgy, independent films like "Mysterious Skin" (2004) and "Brick" (2005), there were a handful of snickers at first: Wait, isn't that Tommy, the teenage kid from "3rd Rock From the Sun"? It was indeed, but Gordon-Levitt has been acting since early childhood. He had an extensive TV résumé long before the first of his 133 "3rd Rock" episodes -- with recurring roles on "Roseanne," "The Powers That Be" and the early-'90s "Dark Shadows" reboot -- and he damn sure hasn't let that role define his subsequent career.

Salon.com > Uncertainty

Don’t fear the fiscal cliff

Joseph Gordon-Levitt: Caught between two worlds