Dear Fellow Floridian:
Lately it has been impossible to turn on the news without hearing about the "fiscal cliff." The media have reported on it as if a disaster has struck an unsuspecting nation. But in fact, it is a challenge our federal government has known about for a long time. That's because the fiscal cliff isn't a random event, but rather a crisis created by a breakdown of leadership in
The federal government has had plenty of opportunities to put our country's fiscal house in order. A first attempt was made by the Simpson-Bowles commission in 2010, but it could not agree on a final plan. There were also the Congressional super committee and various so-called "gangs" of legislators that failed to come up with a solution. Ultimately, all of these groups buckled under pressure.
Today, as the debate rages on as to how to solve our nation's serious fiscal challenges, Americans are still facing very real fiscal challenges of their own. That is why we have put together
this special edition of Florida's Bottom Line.
Inside, you will find articles written by authors with expertise on the economy and finance that will help you separate fact from fiction when it comes to the fiscal cliff. This edition also details useful strategies to help your family and your business in the coming weeks. I hope you find this
publication to be a practical resource moving forward.
Chief Financial Officer
State of Florida