THE FISCAL CLIFF: FLORIDA STATE UNIVERSITY EXPERTS CAN DISCUSS NEED FOR DEFICIT DEAL
Newswise — TALLAHASSEE, Fla. — With fears increasing daily that the U.S. government will fall off a “fiscal cliff” if a deficit deal isn’t reached by Dec. 31, many Americans are wondering what the potential consequences will be for taxpayers, businesses and the nation’s gridlocked political system.
While President Obama and Republican congressional leaders continue to negotiate, experts from Florida State University are available to discuss the need for bipartisanship during an economically perilous time.
POLITICAL PERSPECTIVES
• Franita Tolson, assistant professor of law: (850) 644-7402; [email protected]
Tolson’s scholarship focuses on the areas of constitutional law, election law, legal history and employment discrimination. Her research has been published in leading law reviews, and she has written for or appeared as a commentator for various mass media outlets. She can comment on the need for Washington policymakers to put the good of the country ahead of their own rigid ideologies.
“The controversy over the fiscal cliff reflects broader disagreements about the role of government in society, particularly over funding social safety nets, defense spending and controlling the deficit. In the coming days, our elected officials are going to have to reach a consensus about how to address these issues, and there is no decision that will be popular with the majority of the electorate. Nevertheless, to do what is best for the country in the long term, our elected officials have to be willing make decisions that are politically unpalatable in the short term. This is the very essence of representative democracy.”
• Carol Weissert, Florida State’s LeRoy Collins Eminent Scholar Chair and professor of political science: (850) 644-7320 or (850) 297-0111; [email protected]
Weissert teaches American national and state politics. Her research interests include intergovernmental relations, federalism, health policy, Florida politics and elections.
“The timing of the fiscal cliff is crucial — after the presidential election but before a new Congress comes in. It is an opportunity for real statesmanship and rare bipartisanship. It is a chance to both parties to look good and should not be squandered.”
ECONOMIC RAMIFICATIONS• Randall G. Holcombe, Florida State’s DeVoe L. Moore Professor of Economics: (850) 644-7095; [email protected]
Holcombe’s areas of specialization are public finance and the economic analysis of public policy issues. He is the author of 12 books and more than 100 articles in academic and professional journals. Holcombe also served as a member of Florida Gov. Jeb Bush’s Council of Economic Advisors from 2000 to 2006. He can discuss the effect of government activity on economic growth.
“Despite the dramatic terminology, the fiscal cliff is not something the economy is about to fall off. It is a change in the budgetary status quo that will occur if no agreement is made to stop it. Politicians do not want to see that happen, so even if no agreement is made by the end of the year, you can be sure one will be made soon after. While we won't go off the fiscal cliff, the problem it is creating now is uncertainty. The economy does not respond well when people are uncertain about future tax rates and future expenditures on government programs. Part of the uncertainty is that we can't be confident that whatever agreement is made will actually address the serious fiscal issues we face. We have seen time and time again that rather than actually addressing the structural problems in the federal budget, Congress and the president are satisfied just to kick the problem further down the road. That’s what produced the fiscal cliff in the first place.”
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