Finance expert Mike Periu on the likelihood of a Deal on Fiscal Cliff post-election.
As the 2012 elections reach their conclusion, political and economic leaders are focusing on the next major issue—the fiscal cliff. Analysts believe that there is a good probability that a long-term solution will not be negotiated before the cliff goes into effect in January. The sentiment among political leaders is that financial markets will not react severely if a solution for the fiscal cliff isn’t achieved.
Because of this sentiment, many elected officials from both parties are questioning why they should compromise and potentially vote for an agreement that will upset their constituents. On the other hand, many institutional investors and financial industry leaders believe that Congress will conclude that “going over” the fiscal cliff is far too damaging for the economy, and a solution will be reached in November or December.
If both sides are misreading what the other will do, it is likely that come January 2013 taxes will go up significantly and spending will be reduced significantly as well.
About Mike Periu
Mike is a seasoned executive with experience in small business finance and management. He is the founder of Proximo, LLC a leading provider of corporate, consumer and small business education and training services with an emphasis on finance and technology.
Mike Periu is also a leading national voice for individual empowerment through financial education and entrepreneurship. He has been interviewed over 500 times in national and international media, including NBC, Univision, CNN en español, Telemundo, HITN, TVE, RTE, SBS, MegaTV and others.
Mike writes regularly for American Express OpenForum, Yahoo! Finanzas and is a Huffington Post contributor.
Mike has degrees in Finance and International Business from Georgetown University. He is on the Board of Directors of the Council for Economic Education and was a Fellow at the Kauffman Foundation’s Labs for Enterprise Creation.
