Post 5: How do Democratic and Republican positions on the fiscal cliff differ?

The American government’s two major political parties traditionally stand for the opposing viewpoints on social, foreign, and economic problems. However, 2013’s “fiscal cliff” has come to the forefront of the United States’ concern. The “fiscal cliff” is a term coined to describe the economic changes taking place at the beginning of 2013. These changes are the ends of the Bush tax reductions, the cuts from the Budget Control Act, and the raising of the debt ceiling. The liberal leaning Democrats and the far more conservative Republicans have drastically differing views on how to approach each of these topics.

Democrats believe that with the end of the Bush-era tax reductions, an increase of taxes to the upper class will ease the burden on the less fortunate and allow for a fair distribution of tax responsibility to those who can afford it. They also support the current federal spending rate and are hesitant to reduce the budget. Though they are not for or against raising the debt ceiling as a whole, the party is ready to raise the ceiling if it becomes necessary. These viewpoints reflect their liberal leanings and beliefs.

However, Republicans follow a more conservative approach. They support the reduction of the federal budget and were in favor of the extension of the Bush-era tax reductions. This view stems from their belief that many taxes or increases in federal regulation pose a threat to the growth and stability of America. They are also strongly against raising the debt ceiling to accommodate for the growing deficit.

Though the democrats may hinder growth by increasing taxes, the republican approach would deeply cut into government run programs that many communities rely on. Both parties offer valid plans but the time for agreement draws near, and a consensus seems almost impossible.