2012
Sep 
24

Weekly Coaching Update with Dr. Kerry Johnson

Filed under: GENERAL — Kerry Johnson @ 2:21 pm  

This Week’s Peak Performance Coaching Report and Current Economic Outlook
As you communicate with your clients and help them make sense of the current economic conditions, here are some talking points that will make your conversations more relevant and informed.

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The article below contains important information you need to explain the “Fiscal Cliff” coming in January 2013. Please incorporate this into your 3 month calls. If you are diligent in calling your A and B clients every 3 months and use the 3 month call script, your business will increase 36% this year. Just on this one technique alone. If you aren’t getting this kind of result, talk to your coach and review this process.
Dr. Kerry Johnson

CBO ISSUES FRESH ‘FISCAL CLIFF’ WARNING

By Robert Schroeder
WASHINGTON (MarketWatch) — The U.S. economy will contract instead of expanding in
2013 if scheduled tax hikes and spending cuts go into effect in January, the
Congressional Budget Office warned on Wednesday.

In a fresh warning about the so-called “fiscal cliff,” the nonpartisan CBO
reiterated that the U.S. economy will go into a recession next year if the Bush-era
tax cuts expire and automatic spending cuts take effect. Read the CBO report.

In its latest report, the CBO predicts that the U.S. economy will grow at a 2.1%
clip in 2012, but fall by 0.5% between the fourth quarter of 2012 and the fourth
quarter of 2013 under the fiscal cliff scenario.

Previously, the CBO said growth would be 0.5% in 2013 under the fiscal cliff. In its
new report it said the “underlying strength” of the economy is weaker.

The report will serve as a stern warning to members of Congress, who are expected to
try to work out an arrangement to avoid the spending cuts and tax hikes.

It will also provide new fodder for the presidential campaign, in which President
Barack Obama and Republican challenger Mitt Romney have made tax cuts and reducing
deficits a central argument on the campaign trail.

The CBO said unemployment would jump to around 9% in the second half of 2013 from
its current 8.3% if the tax increases and spending cuts play out.

Rep. Jeb Hensarling, a Texas Republican, said that the report is confirmation that
Obama “has put America on a path of slower growth and fewer jobs.”

Rep. Chris Van Hollen, a Maryland Democrat, said that job creation is an effective
way to cut the deficit and urged Congress to pass Obama’s policies.

“President Obama has a plan to create jobs, stabilize debt, protect Medicare and
Social Security, and replace the damaging, indiscriminate cuts from the sequester
with a targeted, balanced approach to deficit reduction,” Van Hollen said.

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