The country to the edge when they could have signed the one-sentence extension of debt ceiling in five minutes seem to at least know they are not gonna be able to spin themselves out of responsibility for this joke.
Well all the fucked up conservatards that drove the country to the edge when they could have signed the one-sentence extension of debt ceiling in five minutes seem to at least know they're not gonna be able to spin themselves out of responsibility for this joke. There is no 'cliff' because it was already resolved a year ago when they passed these automatic cuts/taxes, and honestly I hope they get implemented. All the people who stand to take a tax hike are fundraisers for the tea bag cause and various other anti-American political movements. I have a good job so I'm not worried. I elected the right president to lead the country so that means even if I lose said job, I will still have access to healthcare. The blubbering ignorants can shove their fists in their asses and maybe they'll have a few more shooting sprees... fuck if I care. I didn't expect their insane ideology to go out without a big bang. I'm not worried about my taxes going up, it amounts to about $150 per year. I can get over it, and so can everyone else.
I know. I cited with Bernanke's claim about a 2nd recession. I just went by the testimonials of other economists whom agree that going over is the best thing for this country to do to control the interest on the debt in the long term (saving us from potential default).
considering what this would do to our already burdened economy (I.E. the increase in unemployment and people on government assistance) i have to disagree on the higher taxes fixing the debt. I honestly believe that the only reason politicians or other important people would say that this would be a good thing for America would be to try and quiet down the mega-rage when this does occur in January. Although debt is a major problem taxing a burdened populous would make the nation's economic situation much worse IMO. However, considering i do not have any degree in economics you might wanna take my opinion with a grain of salt
I wish all ignorant liberals that vote for other ignorant liberals would do a little exercise. Sell lemonade for 10 cents per cup and track your sales for one year. Then, charge 1 million dollars Per cup the next year. Report which year had better revenues.
Liberals want to spend as if they will be selling the same amount of cups and need only raise the prices to offset their ignorant spending.
Bush had these rates, was funding two wars AND had the budget to only 150 billion deficit. A figure everyone in the country would accept at this point. If liberals were not such bloodthirsty vampires wanting the heads of the rich, then they would address their reckless spending and lack of ANY passable budget by this President before they went back to steal more from the people. You don't mention spending because the honest goal is to hurt those you consider privileged.
Ask France, Spain, and Greece how raising taxes to appease the middle class liberals works out for the country.
might as well go ahead and get it over with, as the saying goes, "somebody's gotta pay". Trillions of dollars spent on wars and nobody seems to feel responsible for the debt. A president that decided he would lower taxes at the same time he was going to war? Bail out banks in new money, whatever the hell that is. Some kind of sorcery - magically turning paper into weapons?
A question that is often used in Japanese business dealings is, "who pay?" Every person that has any type of interests in the U.S. economy would do well to ask "who pay?".
Military spending is too high and taxes are too low. Lets jump over the cliff and correct it. I'd rather jump off of the cliff than be pushed off of it.
Well, America is the dominant economy at the moment, but as things stand China and the India are going to overtake you soon. Others are on the way up, whilst the US and the EU are stagnating. The eternal deadlock that stops anything useful being done is a symptom, not the cause.
Well, it might have the same overall effect it has now. Like, the recession might me mild or even light. During the height of this recession, unemployment peaked at 10%, and it didn't really have an overly adverse effect on their recovery (sluggish it may be).
The fiscal cliff is a bunch of mandatory tax hikes and spending cuts that kick in on Jan 2013.
"In the United States, the fiscal cliff is a term used to refer to the economic effects that could result from tax increases, spending cuts and a corresponding reduction in the US budget deficit beginning in 2013 if existing laws are not changed by the end of 2012. The deficit—the difference between what the government takes in and what it spends—is expected to be reduced by roughly half beginning in the first days of 2013. This sharp decrease in the deficit in such a short period of time is known as the fiscal cliff. However, the Congressional Budget Office estimates this sudden reduction will probably lead to a mild recession in early 2013.
The laws leading to the fiscal cliff include the expiration of the Bush tax cuts and planned spending cuts under the Budget Control Act of 2011. The Budget Control Act was a compromise intended to resolve a dispute concerning the public debt ceiling. Some major programs, like Social Security, Medicaid, federal pay (including military pay and pensions), and veterans' benefits, are exempted from the spending cuts.[note 1] Spending for defense, federal agencies and cabinet departments would be reduced through broad, shallow cuts referred to as budget sequestration.
From fiscal year 2012 to 2013, federal tax revenue is expected to increase by 19.63%, while spending outlays are expected to decline by 0.25%.(table-1.6)[note 2] Relative to the size of the economy, these changes would raise 2013 tax revenue to 18.4% GDP, above its historical average of 18.0% GDP, while reducing spending to approximately 22.4% GDP, still above the 21.0% GDP historical spending average. "
Oh, I thought it was a confused metaphor to depict the levels of debt verses the amount of tax the government could possibly raise, kind of like an event horizon, or the bridge over the Rubicon. Instead, in this metaphor, the economy doesn't go down off the fiscal cliff, but attempts to ascend it - in an exhausting and hazardous climb. Nice.
Because the Republican philosophy of "low taxes" only applies to the rich. And the concept of "no government spending" doesn't apply to the military and anything that controls non-Christians and women.