Fiscal Cliff Worries Some in St. Joseph
By: Sarah Hatten
Updated: December 6, 2012
(ST. JOSEPH, Mo.) With the "fiscal cliff" looming in the distance, the debate is heating up across party lines in Washington. Here in St. Joseph, some are starting to worry about how the indecision will impact their lives.
"It's hard because I've worked all my life to get what I have. Since I was 16, I've been working day in and day out and if stuff changes, it'd affect a lot of things," Travis Keaton, said.
"You can't play with the American public's minds. This is a very serious matter," Joseph Hershewe, Hershewe & Company P.C. said.
Hershewe says his phone has been ringing off the hook with people panicking over the end-of-year fiscal cliff.
The White House is proposing taxes on the upper crest of wealthy Americans, while Republican Congressional leaders are offering a solution through adjustments to Medicare and Social Security.
"We have a tendency to put this on the back burner. We think they'll fix it somehow, they'll do something. But that optimism is growing slim as the days grow near to the end of the year," Hershewe said.
Hershewe says one thing is certain - if this doesn't get resolved by the end of the year, it will affect everyone.
"It would be a significant blow to economy because it impacts the stock market, investments, real estate industry, employment. Business owners will be affected and they have to pass that burden onto someone," Hershewe said.
If the parties can't compromise, Hershewe hopes they will delay the process.
"They would say come December 31, no resolution yet, move it to March or April. Let's leave everything the way it is, not disturb it. We call it a stop-gap, we've done that before," Hershewe said.
More than 1,000 government programs could be impacted if the two sides continue their stalemate.
The "fiscal cliff" deadline is December 31, but Congress is set to break for the holidays next week.
"It's hard because I've worked all my life to get what I have. Since I was 16, I've been working day in and day out and if stuff changes, it'd affect a lot of things," Travis Keaton, said.
"You can't play with the American public's minds. This is a very serious matter," Joseph Hershewe, Hershewe & Company P.C. said.
Hershewe says his phone has been ringing off the hook with people panicking over the end-of-year fiscal cliff.
The White House is proposing taxes on the upper crest of wealthy Americans, while Republican Congressional leaders are offering a solution through adjustments to Medicare and Social Security.
"We have a tendency to put this on the back burner. We think they'll fix it somehow, they'll do something. But that optimism is growing slim as the days grow near to the end of the year," Hershewe said.
Hershewe says one thing is certain - if this doesn't get resolved by the end of the year, it will affect everyone.
"It would be a significant blow to economy because it impacts the stock market, investments, real estate industry, employment. Business owners will be affected and they have to pass that burden onto someone," Hershewe said.
If the parties can't compromise, Hershewe hopes they will delay the process.
"They would say come December 31, no resolution yet, move it to March or April. Let's leave everything the way it is, not disturb it. We call it a stop-gap, we've done that before," Hershewe said.
More than 1,000 government programs could be impacted if the two sides continue their stalemate.
The "fiscal cliff" deadline is December 31, but Congress is set to break for the holidays next week.
