Well hello 2013 and aren’t we glad to see you? 2012 was a fair year for some, a very difficult year for others. The good news is that the housing market seems to be crawling back. As it picks up, we’re hopeful it will boost consumer confidence so the nation will continue to climb out of this mini (yet long) recession.
Big in financial news lately has been the alarm over the fiscal cliff plunge this nation was is headed for. Why still present tense? This article in the Washington Post provides a great explanation of what it’s all about – with visuals!
They demanded a serious debt reduction deal — but no tax increases allowed — if they were going to let the debt ceiling rise. If the ceiling didn’t rise, that would have meant that debt-holders wouldn’t get paid, since there was not enough tax revenue to pay them off while keeping the basic functions of the federal government from ending. So the markets were like:
Please go read the entire article. It’s great!
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