Arlington, Va. – Bankrupting America, a project of Public Notice, released a new video looking at how the uncertainty surrounding the fiscal cliff is impacting Santa Claus Inc., a large international toy manufacturer located in North Pole, but incorporated in Delaware. Owned and operated for the last 1,700 years by long-time president and CEO Kris Kringle, Santa Claus Inc. is currently the largest employer north of Greenland, but now facing the possibility of another recession if Washington fails to reach an agreement on the fiscal cliff, that could all change.
“If Washington doesn’t do something about the fiscal cliff by the end of this year, my taxes are going to go up and the economy will tank again,” said Kris Kringle, president and CEO of Santa Claus Inc. “If those Jack Frosts in Congress keep punting on solving our problems, I’ll have to cut back on services and lay off employees. That’s bad for business, bad for their families and bad for our customers.
“Washington can help small business owners and all Americans if they solve the fiscal cliff by keeping taxes low and find a way to cut spending with careful deliberation, not reckless slashing,” Kringle continued.
Gretchen Hamel, executive director of Public Notice, issued the following statement on Kringle Corp. and the fiscal cliff:
“Whether you’re a small business on 34th Street or a global enterprise in the North Pole, the prospects of plunging back into a recession are devastating. We can’t afford to jingle all the way off the fiscal cliff because lawmakers are beholden to ‘die hard’ special interest groups that refuse to touch entitlement programs. Americans understand that you can’t get everything on your wish list; it’s time for Washington to get off Santa’s lap and come around to reality.”