Since I think the probability at present might be as high as 75% or higher that we are going over I thought it might be good to prepare people for it.
Who will be hurt in the short term?
Middle Class and Poor people will be hurt the most in the first month or two.
1. There won't be unemployment compensation for anyone over 26 weeks unemployed.
2. Thousands and thousands of government jobs that will be furloughed likely could remain permanently furloughed because of the way this is happening likely will break any union agreements and become unworkable legally speaking both for unions and for government.
3. Milk will double or triple in price. This is also true for all milk products. In some states the milk, cheese and other dairy products will triple in price.
4. Wealthy people mostly have prepared for this by taking enough cash out of investments to see them through these times.
5. So, the poorest of our nation will see less giving because no one will be able to write of any money they give. So, it will only be the middle class and the poor still giving at that point.
6. Within a couple of months food riots and benefit riots and other civil unrest like we have seen in Greece and other places will take place (if Congress hasn't fixed things by then).
7. It is difficult to say whether once we go over the fiscal cliff it won't be like humpty dumpty falling off the wall where nobody could put humpty dumpty together again.
8. There hasn't been anything as serious as this potentially could become since the Great Depression and World War II.
9. There likely is no way for anyone to sue their congressperson or president about what is happening now. So, basically there is no liability legally for anything the government will or won't do except for people demonstrating in the streets.
10. Many of those laid of or "Furloughed" will be defense department employees. So, it is possible the nation will also be less safe from January 1st on.
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