<strong>LOGAN—</strong> President Barack Obama has returned home from a holiday vacation in Hawaii, which was cut short because of concerns about the so-called “fiscal Cliff.”
Congressional leaders have yet to agree on how to avoid the fiscal cliff next week that could rattle a recovering but still-fragile economy. Adding to the mix, the government is on track to hit its borrowing limit Monday.
Cache County Republican Party Chairman Boyd Pugmire said if the fiscal cliff occurs it will impact everyone.
“If the Republican Party caves and gives in to the Obama administration, we’re going to have even worse problems down the road,” Pugmire said. “I don’t want to go over the cliff, I think that’s a terrible thing to do to the American public, but I think it’s being held hostage right now as a political tool rather than what’s best for the country.”
Pugmire said he spoke recently to state Lt. Governor Greg Bell who told him if there is a fiscal cliff, Utah’s budget could move from one with a surplus to a deficit budget due to the loss of federal funding.