The fiscal cliff is coming! If Republicans and Democrats don’t strike a deal by January 1, massive automatic spending cuts are triggered and the Bush-era tax cuts expire.
“In other words, we’re all going to die,” Stephen Colbert said on Wednesday. Many Republicans signed a pledge with Grover Norquist not to increase taxes. But Democrats think they might have a workaround: allow all the Bush tax cuts to expire at the new year, then vote for a middle-class tax cut.“They’re thinking this will fool Grover Norquist,” Colbert said. “The Norquist cannot be tricked so easily. … Oh, the bearded one is vengeful.”
Watch the video:
|The Colbert Report||Mon – Thurs 11:30pm / 10:30c|
|The “Fiscal Cliff” Conundrum & Grover Norquist’s Tax Pledge|