The Norman Transcript

Opinion

December 13, 2012

There must be a way to avoid the cliff

NORMAN — You no doubt have heard about the impending financial crisis. Some news programs are actually showing a ticking clock with a countdown in days, hours and minutes until the end of the year.

So what should we make of all this and what will happen? Progress on the negotiations between the Republicans and the Democrats does not seem to be going well and the deadline is looming. In the absence of some kind of agreement, on Jan. 1 tax rates go back to 2001 levels, defense budget cuts automatically kick in and at least a $600 billion reduction in economic activity will take place in 2013. For an economy that is barely limping along anyway, that almost certainly means recession in 2013.

The apparent lack of progress in the fiscal cliff talks is being described as a farce and a disgrace by some; by others, it’s a poker game where participants are simply not exposing their cards in the early stage of the game.

It’s most definitely not a poker game, a situation where one winner takes it all and the other side loses it all. Nor is it a hopeless farce being played out by fools who don’t know what they’re doing. There is no group more highly trained and experienced in the art of negotiating than politicians. Legislation can only be passed or amended through negotiations and compromises that result in enough votes from both sides.

The foolish part is that it has taken them so long to address the situation, leaving them so little time to get through the process. The risk is they don’t have time for the normal process and go past the deadline, or that one side becomes more desperate for a deal than the other and grabs at the last offer.

A good business deal hammered out in negotiations is considered to be one that does not have a winner and a loser, but one that is fair and acceptable to both sides. And that is certainly what is needed from the fiscal cliff negotiations if both sides are expected to work more closely together for the good of the country.

Text Only | Photo Reprints
Opinion
  • Dancing forward

    The official motto for Mike Fowler’s chairmanship of the Norman Chamber of Commerce is “Moving Norman Forward.” But after Thursday night’s annual banquet, the sub-theme should be, “Let’s Dance, Norman.” More than 500 chamber members and ...

    April 19, 2014

  • NRA members need to step up

    Please, Mr. Bloomberg, leave the checkbook open, but step away from the podium. Your efforts to curb gun violence and improve safety are notable. The National Rifle Association thanks you....

    April 19, 2014

  • Local control or not?

    Oklahoma lawmakers are a fickle bunch when it comes to issues of local control. Sometimes they want it and other times they do not....

    April 19, 2014

  • Norman should act wisely

    Editor, The Transcript: The fact that the city of Norman sells water for oil/gas drilling (or any other purpose) for less than half what they pay Oklahoma City when buying water, and while Norman residents are on rationing, is an act of ...

    April 18, 2014

  • There’s no need to fix system that’s working

    Lawmaker attempts to alter the way judges are selected are being challenged by the state’s lawyers. More than 1,800 signatures on a state bar association petition urging a “no” vote on Senate Joint Resolution 21 have been gathered in just ...

    April 18, 2014

  • On the side of openness

    Oklahoma Gov. Mary Fallin has been criticized for failing to release emails and other information sought by press outlets who believe it was covered under the state’s Open Records Act. Now, Fallin is coming down on the side of keeping the ...

    April 18, 2014

  • A raise for troopers, but what about others?

    Oklahoma Highway Patrol troopers could see an increase in their paychecks during the state’s next fiscal year, which begins in July....

    April 17, 2014

  • Fallin should help residents

    Editor, The Transcript: I see this week that our empty skirt of a governor asked the federal government (small business administration) for much money. She is concerned about the suffering of the business owners in Lexington and Purcell ...

    April 17, 2014

  • Top honors for NPS

    Top honors keep rolling in for both of Norman’s high schools. The district learned this past week that Norman High School and Norman North High School have been recognized as two of the most rigorous high schools in the country and in the ...

    April 16, 2014

  • Wind power bursting

    There are a few wind generators dotting the Norman skyline, but western and northwestern Oklahoma makes up for the deficit here. An industry group this week said Oklahoma ranks fourth nationally in the amount of wind-generated ...

    April 16, 2014