American Fiscal Cliff
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                                           American economy is facing danger from its very big deficit in the budget. It is like one Overdrawn Credit Card. It is said average american spend more then what they earn.  The average credit card of Americans are overdrawn up to one salary. However the American prosperity is due to their capacity to spent. The economy may crash if they will loose their purchasing power.
                                            It is believed  that such a big deficit has developed because america is importing  more then what it exports. America is buying petroleum products from Arabs Countries, the manufactured goods from China. The Walmart is importing/buying 80% of their product from China. All fruits and vegetables comes from South American Countries like Mexico, Honduras and  Guatemala.  They are  importing cars from Japan and Germany and Crap from Taiwan. The software is being Outsource from India.  In short America  manufactures Good wine and liquor. All these factors have tremendously increased the foreign debts.
                                          The America's Annual deficit has gone up more then one Trillion Dollars and accumulated deficit is so far is  more then 14 Trillion Dollars. The American government has been trying to reduce the deficit but saving is  very negligible.  The American Congress and Senate is widely divided on the issue of fiscal cliff. There is dead line by which Congress and Senate  must come to some agreement otherwise  the constitutional provisions will be automatically applicable. Which are those provisions? The tax will be automatically increased and compulsory cut in spending will come in effect. It is  said that 661 Million Dollar Tax will be increased and 1.2 Trillion Dollars of  cut will be imposed on the government spending. It is said that all those measures  will further deteoriate the economical situation.
                                        However there are lots of differences among the republicans and democrats regarding solving the fiscal deficits. Democrats are for taxing rich and not willing to cut the expenses related to welfare of the weaker section of society. while republicans are not for higher taxes for rich and suggesting cut in welfare expenses including in social security  payments.
All these infighting has made the congress and senate more or less paralytic.  Meanwhile the economy and American people are further suffering. The American credit rating may also suffer further if this  fiscal  cliff problem  remains unsolved for long time.
                                       The recent Presidential election has shown the popular trend against Republican Party. It  is one of the compelling reasons for  the Republicans to come round for the  negotiable solution of the problem. We hope wisdom prevails and solution is found for such vital problem. Meanwhile we also pray 'God save America'
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