The Fiscal Cliff?

Discussion in 'News / Current Events' started by SolaSaint, Nov 15, 2012.

  1. SolaSaint

    SolaSaint
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    Should we all be against going over the Fiscal Cliff or not? What will happen come 31 Dec and Congress and Barry haven't come together on a fix? I have heard our taxes will rise $3,500 a year and defense cuts will be massive along with other cuts to some entitlement programs. Maybe this is what is needed. If my family started going broke because we spend too much, I would have a family meeting to discuss our budget (although we don't have one) and make any necessary cuts to spending to keep from going into the red. Shouldn't our country do the same? I know it would be very painful but someone has to step up especially since Obama and Congress will not.

    However this is our Governments problem since they have spent all our dollars foolishly, so maybe they should make the painful adjustment by cutting some of their favorite programs and then having to answer to their constituants.

    What do you say?
     
  2. InTheLight

    InTheLight
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    I expect the Republicans, led by John Boehner, to take another stand on principle against raising taxes on the wealthy, instead offering to close loopholes and eliminate deductions (legislation for which could never be written and passed in the next 45 days) and thereby stonewall any efforts to reach a compromise. They will dig in their heels on blocking any tax increase on the wealthy to the point of not (separately) extending the Bush tax cuts to everyone else. Denying a tax rate increase on the wealthy is their best bargaining chip with Obama and they won't give it up easily.

    We will go over the fiscal cliff on January 2nd. The stock market will lose 600 to 700 points that week. Under pressure, legislators will produce be some cowpie inspired agreement to agree to spending cuts later and set yet another deadline. They will come up with some emergency legislation to halt the automatic spending cuts. Moody's will downgrade the nations credit rating (again) and the stock market will lose another 500 points. Congress has no spine. I fear that the anger over the fiscal cliff debacle will subside by 2014 and most of these fools will get re-elected again.
     
  3. Bob Hope

    Bob Hope
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    Out fiat currency is failing. Without extreme borrowing the economy will collapse today. Pick your poison, death today and start the healing, or death on a later day. Its doom either way.
     
  4. InTheLight

    InTheLight
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    There is some twisted logic in this. Let's go over the cliff and get it over with. The alternative is to kick the can down the road again and face a bigger problem later on.
     
  5. Bob Hope

    Bob Hope
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    Our handlers have created this problem back when they started the non-Federal Federal Reserve. Only a return to honest money will fix the problem. The book The Creature from Jekyll Island by G. Edward Griffin gives a perfect explanation of how our system works and why it will fail. People who understand the inherent weakness in this system are buying food and supplies.
     
  6. Revmitchell

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    I don't have any handlers.
     
  7. InTheLight

    InTheLight
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    Oh, OK. Got it...
     

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