Hubbell, a maker of electrical products, has canceled several million dollars’ worth of equipment orders and delayed long-planned factory upgrades in the last few months, said Timothy H. Powers, the company’s chief executive. It has also held off hiring workers for about 100 positions that would otherwise have been filled, he said.
“The fiscal cliff is the primary driver of uncertainty, and a person in my position is going to make a decision to postpone hiring and investments,” Mr. Powers said. “We can see it in our order patterns, and customers are delaying. We don’t have to get to the edge of the cliff before the damage is done.”
The reason there is an impending “fiscal cliff” is that Republicans have been intentionally doing everything they possibly can to precent the American economy from recovering since January, 2009. Right-wingers talk about how “uncertainty” is hobbling the economy, implying that slashing taxes and the social safety net will provide “certainty”. The uncertainty that is hobbling the economy is the inability to predict how far the Republican Party will go in their deranged quest for economic destruction. Will they force a government shutdown? Will they fail to raise the debt ceiling and force default? Will they allow the “fiscal cliff” to be averted?