Bronner warns of recession if fiscal cliff deal isn't reached - WTVM.com-Columbus, GA News Weather & Sports

Bronner warns of recession if fiscal cliff deal isn't reached

Posted: Updated:
  • NEWSMore>>

  • Operation D.R.I.V.E. on I-85 promotes safe driving habits

    Operation D.R.I.V.E. on I-85 promotes safe driving habits

    Wednesday, September 17 2014 1:33 AM EDT2014-09-17 05:33:00 GMT
    Operation D.R.I.V.E. is a multi-state patrol on Interstate 85 which keeps an eye on unsafe driving behaviors among commercial vehicle drivers like those texting, following too closely or driving fatigued.More >>
    Operation D.R.I.V.E. is a multi-state patrol on Interstate 85 which keeps an eye on unsafe driving behaviors among commercial vehicle drivers like those texting, following too closely or driving fatigued.More >>
  • Auburn University becomes Styrofoam free

    Auburn University becomes Styrofoam free

    Wednesday, September 17 2014 1:20 AM EDT2014-09-17 05:20:05 GMT
    Auburn students and faculty may have noticed something missing on campus this semester: Styrofoam cups. The Office of Sustainability and Tiger Dining have been working to make Auburn a Styrofoam-free campMore >>
    Auburn students and faculty may have noticed something missing on campus this semester: Styrofoam cups. The Office of Sustainability and Tiger Dining have been working to make Auburn a Styrofoam-free campus, and at the end of the summer, Styrofoam was eliminated from private vendors on campus.More >>
  • Redevelopment project in the works on "City Village"

    Redevelopment project in the works on "City Village"

    Wednesday, September 17 2014 1:15 AM EDT2014-09-17 05:15:08 GMT
    As thousands flock to Columbus for what USA Today calls one of the best man-made whitewater rafting courses in the world, city leaders want to make a great impression on tourists as they enter the city.More >>
    As thousands flock to Columbus for what USA Today calls one of the best man-made whitewater rafting courses in the world, city leaders want to make a great impression on tourists as they enter the city.More >>
MONTGOMERY, AL (WSFA) -

Count Dr. David Bronner, the head of the Retirement Systems of Alabama, among the financial experts who believe a lack of agreement over the fiscal cliff could have dire consequences for the economy.

"I have never seen in my lifetime Democrats and Republicans be so ridiculous,' Dr. Bronner said.  "I don't what they're smoking, but it must be pretty good stuff because they can't make up their mind one way or the other, except the other guy's an idiot and I won't listen to him at all."

Bronner told the audience at the Beasley Allen Legal Conference and Expo that if leaders can't agree, the nation would be back in a recession within a month or two.  He said delaying a solution won't help matters either.

 "I disagree with those who say if they don't get it done, maybe they'll fix it in February or March, and do it retroactive," he said.  "There is a problem with that.  What that means is you destroy the consumer right now." 

The Tax Foundation found an Alabama family earning $63,000 a year would see their federal taxes go up by more than 5% - or by $3350 a year.  It ranks Alabama 12th in the nation as far as the impact of the taxes on families.  Alabama also relies heavily on federal spending on entitlement programs and defense. 

Despite his warnings, Bronner is actually optimistic about leaders reaching an agreement before Christmas.  The debate will continue to fierce until then.

Copyright 2012  WSFA 12 News.  All rights reserved.

  • Most ReadMost ReadMore>>

  • Man indicted for attempted murder of Lanett police officer

    Man indicted for attempted murder of Lanett police officer

    Tuesday, September 16 2014 12:22 PM EDT2014-09-16 16:22:25 GMT
    A Chambers County grand jury has indicted Jarod Moreland for Attempted Capital Murder of a Lanett police officer.  Per Lanett Police Chief Angie Spates, in August of 2013, Moreland allegedly took policeMore >>
    A Chambers County grand jury has indicted Jarod Moreland for Attempted Capital Murder of a Lanett police officer.  Per Lanett Police Chief Angie Spates, in August of 2013, Moreland allegedly took policeMore >>
  • Father accused of killing 5 children extradited back to S. Carolina

    Father accused of killing 5 children extradited back to S. Carolina

    Thursday, September 11 2014 7:56 PM EDT2014-09-11 23:56:58 GMT
    The father accused of killing and dumping the bodies of his five children along a rural dirt road in Wilcox County, Alabama was successfully extradited back to the state of South CarolinaMore >>
    The father accused of killing and dumping the bodies of his five children along a rural dirt road in Wilcox County, Alabama was successfully extradited back to the state of South Carolina Thursday to face charges, according to local reports.More >>
  • breaking

    Missing juvenile boy located

    Missing juvenile boy located

    Tuesday, September 16 2014 12:05 PM EDT2014-09-16 16:05:39 GMT
    The Columbus Police Department has located a missing juvenile and returned him to his residence. Terrell D. Baldwin, also known as "Tank," was last seen at 513 35th Street on Wednesday, Sept. 10 2014.More >>
    The Columbus Police Department has located a missing juvenile and returned him to his residence. Terrell D. Baldwin, also known as "Tank," was last seen at 513 35th Street on Wednesday, Sept. 10 2014.More >>
Powered by WorldNow

1909 Wynnton Road
Columbus, Ga. 31906

FCC Public File
publicfile@wtvm.com
706-494-5400
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and WTVM. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.