'Your papers, please' must never be heard in America
Uncertainty about the "fiscal cliff" in Washington could have a significant impact on consumer behavior over the holidays in a state like Maryland that relies on the federal government for so many jobs, the head of the Maryland Retailers Association told a panel of state officials on Thursday.
Uncertainty about the "fiscal cliff" in Washington could have a significant impact on consumer behavior over the holidays in a state such as Maryland that relies on the federal government for so many jobs, the head of the Maryland Retailers Association told a panel of state officials on Thursday.
"Maryland's disproportionately high income levels and our symbiotic relationship with the District [of Columbia] puts us at a greater risk than almost all other states," said Andrew Schaufele, assistant director of the Bureau of Revenue Estimates. "Nobody really knows what is going to happen at this stage. The only certainty with regard to the fiscal cliff is the tremendous amount of uncertainty."
Mr. Schaufele noted one forecast estimated there could be more than 100,000 job losses in Maryland if Congress does not avoid the cliff.
