Off the cliff we go and Obama could not be happier! Just think Bush era taxes will expire, and taxes will go up on the middle class. Obama can say it is the Republicans fault. A slam dunk win, win for Barry. GO!

chochoo Wrote:
-------------------------------------------------------
> Off the cliff we go and Obama could not be
> happier! Just think Bush era taxes will expire,
> and taxes will go up on the middle class. Obama
> can say it is the Republicans fault. A slam dunk
> win, win for Barry. GO!

Then they can work toward a tax cut for only the middle class, and dare the nutjobs in the Republican Party to stall and thwart the legislation.

Let it go over the cliff.

Obama will be desperate to get it resolved by the time of his inauguration.

Obama is demanding a 5-year debt limit extension. That's getting close to around 24 or 25 trillion dollars.

Lester Wrote:
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> Obama is demanding a 5-year debt limit extension.
> That's getting close to around 24 or 25 trillion
> dollars.


You are an idiot. If the current proposal for the budget is enacted the deficit with the current terrible GDP growth rate would still be reduced to 550 billion over the next 5 years on average. The Debt would therefore be about 18-19 trillion. You are such a jackass. Number are important in this discussion and you are exaggerating them. Way to go, way to be productive

The deficit-cutting Obama is talking about are a pittance. The high earner tax cuts only reduce the deficit by 110-120 billion per year. It's a sticking point only because that's the Pub's main constituency and they still remember what happened to Bush in 1992.

Letting the stimulus and the tax cuts expire would be the most effective way to reduce the growth of debt and promote long-term growth. The CBO calculations project a mere one-time reduction in consumer expenditures of 200 billion dollars which is more than offset by 600 billion dollars in deficit reduction which has a recurring benefit.

Obama's offer: 1.6 trillion dollar cut over 10 years, 50 billion dollars in additional spending in first year and each year thereafter adjusted by COLA, and Congress waives its right to review debt ceiling requests by the administration.

Annual deficits: 1.35 trillion dollars.

Debt ceiling as of Dec 31, 2012: 16.4 trillion dollars.

Debt ceiling when Obama leaves office in January 2017: 21.9 trillion dollars.

Debt-to-GDP when Obama leaves office in January 2017: 128%.

digging a hole too deep Wrote:
-------------------------------------------------------
> Obama's offer: 1.6 trillion dollar cut over 10
> years, 50 billion dollars in additional spending
> in first year and each year thereafter adjusted by
> COLA, and Congress waives its right to review debt
> ceiling requests by the administration.
>
> Annual deficits: 1.35 trillion dollars.
>
> Debt ceiling as of Dec 31, 2012: 16.4 trillion
> dollars.
>
> Debt ceiling when Obama leaves office in January
> 2017: 21.9 trillion dollars.
>
> Debt-to-GDP when Obama leaves office in January
> 2017: 128%.



Yeah, heard that. Ridiculous. Especially giving up approval of debt ceiling increases. And, once again, they pretend that the most significant issues don't exist. Just ignore them and they'll go away! lol

Only explanation is that they're intentionally trying to scuttle the whole deal.

I thought the "fiscal cliff" was going to save us. Did I miss something? So these dip-shits can't agree on anything, so they agreed to some future across the board cuts in case they failed (and of course, they did). What could be more fair than that? The republicans won't cut the military, the democrats won't cut social programs. Seems like a pretty damn good solution to just cut 10% off of everything. If it turns out to be super painful, then maybe next time they'll work together.

Everyone in this area is terrified that cuts to the Military–industrial complex (i.e., the massive military-corporate welfare state) will collapse us.

The rest of the country doesn't give a shit.

WTF happened to the Tea Party? I thought they were going to fix the debt problem.

But what if the U.S. economy plunges into another recession nearly as bad as the last one. We don't even have the financial resources at this point to bail out much of anything. And yet under Obama watch the banks haved turned into a bigger mess(nothing done about the too big to fail stuff) and we have the wonderful stock market bubble again as the rats keep gathering their nuts.
I think the blame for that collapse can be directed at St. Barack.
Just cause the damn dummy republicans play a mean stupid game can't Barry take the high road and play a game of chess with the Republicans instead thumping his chest and proclaiming he's king of the playground?