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A national group says the fiscal cliff will have a major affect on Missouri’s economy

Dec 31, 2012 -- 5:00pm

 

With only a few hours remaining the “Fix the Debt Missouri” group is worried non action will greatly hurt Missouri’s struggling economy. In a press release they cited Missouri Chamber of Commerce President Dan Mehan as saying this fiscal cliff is a dangerous combination of spending cuts and tax expirations and predicts our state could lose up to 51-thousand jobs! Already facing a long economic road to recovery this would be a major gamble resulting in taking us backwards. 18-percent of the federal money received by our state would be eliminated and that total has already been inserted into our budget plans for 2013! It could also result in curtailments of federal grants cutting 7-point-2 percent of all revenue Missouri receives on an annual basis! Who will this affect? Working families, funding for elementary and higher education, small businesses AND major employers. The Fix the Debt group says the lack of a “cliff fix” is also hurting our financial markets. Members strongly urge comprehensive debt reduction legislation. Citing a gallup poll 62-percent of Americans want a bipartisan solution.

To learn more about the group go to fix-the-debt-dot-org.

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