Fiscal Cliff

So what is your opinion on this "Fiscal Cliff" nonsense?


i think the analogy is pretty ridiculous and put out there for those who can't understand simple math. And the math says we're fucked. Personally i believe we've gone over the "Cliff" and are now waiting to hit the bottom and see how bad it's gonna be.

Let's be honest. The united states is a shell of it's former self. What once was the freest most prosperous nation in the world is now in rapid decline because we have consumed all of our wealth, and now all of our physical expansion, whether gov programs or wars, is financed with debt.

The Fed Reserve is now indefinitely printing money. No effort whatsoever has been made to make cuts in spending. We are still giving out billions in foreign aid and weapons to regimes we will be at war with in the future. Our assault on the middle east shows no signs of slowing. Raising the debt limit will not make anything better! If we don't address the problems with the Keynesian economic model we will be just another empire that overextended itself and collapsed under an imperial foreign policy and fiat currency.

If you think our jackass congress or puppet of a president are suddenly gonna figure this out, i wish i had your optimism but im a bit of a realist im afraid.

ohh

and go ahead and raise your hand if you ever thought i was crazy for talking about central bankers and world government?

well it's officially been announced



And now for a world government
By Gideon Rachman of The Financial Times
http://www.ft.com/cms/s/0/7a03e5b6-c541-11dd-b516-000077b07658.html#axzz2Grla4L36

Just people freaking out about tax increases. The media and dems turned it into doomsday and the Rebs bought it hook line and sinker. Now we have a worse deal than before.

let's do some math here - not my best subject but this should be simple enough for even me

15 billion in spending cuts

compared to

a 620 billion dollar tax increase

is about a 41 : 1 ratio of tax increases to spending cuts

lol lets continue

in 2012 the Obama administration spent 3.796 trillion dollars which resulted in a deficit of 1.327 trillion dollars for 2012 alone. (Such a nice gift to pass on to our children... who had nothing to do with this mess).

Now let's take it a step further. 15 billion dollars. Sounds like a lot of money. So let's compare that to what the Fed Gov actually spent...

It turns out that 15 billion dollars is only 0.00395152792 % of the Federal Budget.......

hmmm. Now im not an economist and i don't work for the government, but im pretty sure that means 15 billion is just a drop in the bucket in our Federal spending.

ohh yea but congress got a pay increase from obama

Yep.

my opinion

the Fiscall Cliff all comes down to 2 summers ago when we were discussing raising the debt ceiling.
Boehner failed to deliver a compromise and in my opinion Republicans felt granting Obama a "victory" which in actuality meant we did the sensible thing, then that would hurt their chances in the coming 2012 election. So they planned the "Super Congress" which didnt get shit done and all they could agree upon was that if no deal could be reached by end of 2012, the Bush tax cuts would expire for everyone (which if done on the middle class will likely trigger another recession) and we would resume the CLinton level tax rates.

THe fact that nothing was done that summer is the leading factor for our Credit Rating being downgraded from AAA to AA

Now, after the election, Republicans couldnt even rally behind John Boehner's moronic plan and if you have been following this for two years, you know the Republicans had no manuevering room and actually lost some provisions that they would have gotten in 2010. THe fact that John Boehner couldnt even get the pissed off GOP to rally behind his "Plan B" was not only shocking it was embarrassing.
Now Obama also moved ground because he specifically campaigned on extending the bush tax cuts to middle and lower class families, while ending the Bush tax cuts for anyone at 250,000 and above.
He campaigned on that, Romney campaigned on a tax break for those people.
Look at how the election went and it is clear whos belief won out.

Now the deal that passed , the Bush tax cuts stop at 400,000 so the Republicans were able to get that, but they didnt come close to getting the spending cuts they wanted.

Thats my take. Not trying to piss anyone off.

and oits called the fiscal cliff cause anyone that understands the economy and global economics realizes that failing to act will almost certainly guarantee another recession.

ahh good ol false left right paradigm. For when all logical explanations are too inconvenient to admit.

oggy420 wrote:

ahh good ol false left right paradigm. For when all logical explanations are too inconvenient to admit.

what I wont lie. I look at this shit through my political glasses because lets face it, who is it up to solve this crisis? the house and senate, it only makes sense that I would document the events that dealt with the debt ceiling and the fiscall cliff

Sad thing is that it will be us and our children that are left with the much higher taxes.

infact we would have to significantly raise taxes just to keep up with the interest on our debt.

People blindly turn their eyes when faced with facts, but 20 years from now will be disgusted that they stood idly by.

one thing the republicans did by waiting till the new year was avoid the clinton tax hike.

What hits me the hardest is the 3.4 % tax that i will pay additionally on my adjusted gross income taxes.