Editorial: Cliffs, Ceilings And All The Relief In BetweenAdd bookmark
"You've got to jump off cliffs all the time and build your wings on the way down."
The US population will feel lucky that this wasn’t the case as they averted the descent from the "Fiscal Cliff" that threatened to pitch the country into further economic woe this past week.
But as the nation steps back from the precipice, it should be looking up rather than down for the next threat. In March, the US government will reach its statutory borrowing limit, necessitating the issuance of more debt to fund spending already approved by Congress. Without an increase in this "Debt Ceiling", the world’s largest economy could be staring down the barrel at a historic default, as it was last August.
Ceilings, cliffs, double and triple dips: what might all these mean for the energy industry? The question the mainstream media seems to be asking is not how to fix the problem, but if there will be enough topographical terms to cover the crisis through 2013. Financial ravine, anyone?
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