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Does everyone know what the "fiscal cliff" is?


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#16 stirs

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Posted 08 November 2012 - 02:42 PM

It is a situation derived from spending more than you are bringing in and being too childish/selfish/self serving to admit that we cannot fight wars, fund projects, cut taxes, start new entitlement programs, etc or we are going to screw the greatest nation on earth up royally.

#17 thefuzz

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Posted 08 November 2012 - 02:42 PM

Where the fug were all you "fiscal conservatives" when Bush II was doing his thing? You can't have your cake and eat it too. "hey let's spend a poo load of money and fug the world economy up, and then when a democrat gets elected let's change it up and try and blame everything on him by saying he is spending too much trying to fix the poo we fuged up".....what the fug is that? The same people who were going with the program all of a sudden develop a sense of urgency about over the top government spending. Funny.



Many of us were right here....screaming at the top of our lungs to cut back on the federal government and it's spending.

All of it.

Military, handouts, legacy costs, everything.

Most refused to listen, believed that it couldn't get this bad.....it will continue to deteriorate.

#18 teeray

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Posted 08 November 2012 - 02:44 PM

Frankly...I don't think a lot of people do.

The fiscal cliff is a nickname for the automatic cuts and tax increases that go into effect in January if Republicans and Democrats can't get together on policy to reduce the deficit.

The reason it is called the fiscal cliff is because the CBO has said that if sequester happens the cut and taxes are so large that it will send us into a double dip recession.

#19 Panthers_Lover

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Posted 08 November 2012 - 02:45 PM

http://www.cfr.org/e...CFQkFnQodJQ0AJg

happy?


that's extremely informative. thanks.

#20 g5jamz

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Posted 08 November 2012 - 02:47 PM

The fiscal cliff is a nickname for the automatic cuts and tax increases that go into effect in January if Republicans and Democrats can't get together on policy to reduce the deficit.

The reason it is called the fiscal cliff is because the CBO has said that if sequester happens the cut and taxes are so large that it will send us into a double dip recession.


Any deal, IMO, just delays the inevitable placing bets that the economy will rebound eventually and turn receipts upward. But as you just said, the math doesn't work.

Why not just go over the cliff and deal with the ramifications of cuts. Corporate America has to deal with that...our government should have to deal with it. 10% minimum across the board....and that includes employees.

#21 g5jamz

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Posted 08 November 2012 - 02:47 PM

Yep...thanks for the link. This graph shows what happens in 54 days.

Posted Image

#22 mmmbeans

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Posted 08 November 2012 - 02:48 PM

Sure i do. But with people like you, if I present what it is you nitpick at wording in an attempt to throw it off topic. Be the adult here and explain it to everyone.



people like me? hahahahah.

#23 g5jamz

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Posted 08 November 2012 - 02:48 PM

people like me? I didn't start a thread asking an obvious trap question then refuse to answer it myself...


W

#24 Bronn

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Posted 08 November 2012 - 02:51 PM

Forgive g5 he's used to saying "you people"

#25 Harris Aballah

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Posted 08 November 2012 - 02:53 PM

the fiscal cliff is," a great example of dems and reps not doing the job they were elected to do all year"

#26 teeray

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Posted 08 November 2012 - 02:53 PM

Any deal, IMO, just delays the inevitable placing bets that the economy will rebound eventually and turn receipts upward. But as you just said, the math doesn't work.

Why not just go over the cliff and deal with the ramifications of cuts. Corporate America has to deal with that...our government should have to deal with it. 10% minimum across the board....and that includes employees.

I think the only way they get something meaningful done is to do it during the lame duck session where many of the people are already leaving and don't have to worry about partisan politics.

I think they are really close to having something done.

Boehner and Obama were really, really close but they are stuck over the Bush tax cuts. Most of the cuts and other tax increases I believe have already been agreed upon but Republicans are reluctant to raise income tax, even on the wealthy. Obama wants to roll them back and the Republicans are refusing.

I really think that is the only thing holding back a deal and I think it will get done.

I will have to wait until I see the finished product before I have an opinion on it.

#27 thatlookseasy

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Posted 08 November 2012 - 02:54 PM

*sigh*

g5 why would you start a thread like this? Its a perfectly legitimate topic that I'm sure will dominate discussion on this board as the deadline comes closer- is your goal to make every thread you start resemble a troll thread?

#28 g5jamz

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Posted 08 November 2012 - 02:56 PM

*sigh*

g5 why would you start a thread like this? Its a perfectly legitimate topic that I'm sure will dominate discussion on this board as the deadline comes closer- is your goal to make every thread you start resemble a troll thread?


Certainly didn't take but a couple posts in to make the bobber go under...

But we just had an election and the details exactly what entailed the fiscal cliff weren't really discussed in specifics. I was just wondering out of all the people here, without using Google, knew exactly what was going to happen.

#29 thatlookseasy

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Posted 08 November 2012 - 02:59 PM

Why not just go over the cliff and deal with the ramifications of cuts. Corporate America has to deal with that...our government should have to deal with it. 10% minimum across the board....and that includes employees.


Since you asked why, the short answer is that politicians who are up for reelection in a couple years arent interested in making the the economy bottom out

#30 thatlookseasy

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Posted 08 November 2012 - 03:01 PM

Certainly didn't take but a couple posts in to make the bobber go under...

But we just had an election and the details exactly what entailed the fiscal cliff weren't really discussed in specifics. I was just wondering out of all the people here, without using Google, knew exactly what was going to happen.


Alright, but just so you know it takes maybe 10 seconds to google a good summary on just about any topic


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