Former Governor Howard Dean says the country has moved backwards by dodging the fiscal cliff.
Both the House and the Senate in the nation's Capital have passed a bill that pulls the country back from the so-called fiscal cliff. The measure keeps taxes stable for the majority of Americans, however, raises taxes on high-income house holds. Despite the measure receiving bipartisan support Dean says it was a bad deal.
"They agreed to tax the wealthy which is all fine and good, but that's not enough to balance the budget, so now the rest is going to come from cuts and they kicked that can down the road, so I was not happy with the fiscal cliff. I think it was all fine and good to have this great media conclave and say how terrible all the problems would be, the truth is we would have actually dealt with the deficit had we dealt with the cliff and we didn't do that, we made a short-term political compromise and I think it was a mistake," he commented.
Dean added that no matter where tax rates sit, ultimately social security and medicare issues need to be addressed.