Colgate economics professor Nicole Simpson lives and teaches in an interdisciplinary world, where it’s virtually impossible to separate politics from economics. Especially where the “fiscal cliff” is concerned.
“When I teach, I talk about how politics are going to enter into this classroom every day, Simpson said, “but economists try to strip away…the political bantering and focus on the facts.”
During the interview, Simpson said that while the idea of the fiscal cliff began as a “catchy phrase, an extreme thought…things will get even uglier than they are if we don’t do anything.” She said that politicians need to compromise on a combination of government spending decreases and tax increases.
“The timing is so important because we are just starting to come out of this recession that started in 2007 and 2008. Housing markets are starting to recover, confidence is starting to rise, and unemployment is moving in the right direction.”
“Expectations are huge,” she said.
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