FISCAL CLIFF

8 comments

Posted on 29th November 2012 by Administrator in Economy |Politics |Social Issues

8 Comments

  1. Administrator says:

    STATE FISCAL CLIFF

    Long_11-28-31.jpg

    Long_11-28-2.jpg

    Long_11-28-1.jpg

    Like or Dislike: Thumb up 3 Thumb down 0

    29th November 2012 at 9:51 am

  2. BUCKHED says:

    If Uncle Sam was standing at the edge of the fiscal cliff…looking down at the abyss….I’d push his ass off and wave at him as he falls to the bottom !

    This crap is smoke and mirror’s nothing less than a reduction of 50% or more in the size and scope of government can save this country.

    Well-loved. Like or Dislike: Thumb up 6 Thumb down 0

    29th November 2012 at 12:44 pm

  3. AWD says:

    Austerity will come to the U.S., soon, one way or another.

    “Please keep in mind that the “$1.2 trillion in automatic spending cuts” is not for a single year. When you break it down, the cuts to spending would be somewhere around 100 billion dollars a year. And a lot of those “cuts” are actually spending increases that would be cancelled. So those spending cuts would not really put much of a dent in our yearly budget deficits at all.

    The tax increases would be more significant. Middle class families would be paying thousands of dollars more per year in taxes. These tax increases would raise some more revenue for the federal government, but they would also do significant damage to the economy in the short-term.

    Do you know what they call a combination of government spending cuts and tax increases over in Europe?

    They call it “austerity”.

    Nations like Greece and Spain have tried this. They cut spending and raised taxes in an attempt to reduce government budget deficits. What happens is that the spending cuts and the tax increases cause a significant economic slowdown and this causes tax revenues to come in much lower than projected. So then more spending cuts and tax hikes are necessary in order to try to get closer to balancing the budget. But then tax revenues fall even more.

    In the end, both Greece and Spain still have large budget deficits and yet the economies of both nations are suffering through depression-like conditions. The unemployment rate in both nations is now over 25 percent.”

    Like or Dislike: Thumb up 5 Thumb down 1

    29th November 2012 at 1:18 pm

  4. TeresaE says:

    What a fun bit of kabuki theatre, no?

    My hub and I got into a disagreement about it last night, he is under the belief that the AMT won’t hit us – it will be “fixed” once again – and that they will agree to not increase spending and that will set us onto the path of sanity.

    Uh, yeah, sure.

    We left fixable a long time ago, back around the time the towers fell if we would have been told the truth of the job situation (millions of six figure jobs disappearing because Y2K was over and dotcom was fake), and we could have planned and figured out a way to fix it that included more work and more saving and less imported shiny stuff from Asia.

    Instead we were encouraged to take on debt to make up for lost income while the government was doing the same and all of us were forcing jobs to flee the borders.

    Pipers always demand payment, seems it is way past time for us to be funding the bill.

    Like or Dislike: Thumb up 2 Thumb down 0

    29th November 2012 at 2:50 pm

  5. DaveL says:

    If the government was a prick, there wouldn’t be enough Viagra in the world to keep it up.

    Like or Dislike: Thumb up 3 Thumb down 0

    29th November 2012 at 4:05 pm

  6. Eddie says:

    The government IS a prick, and there’s not enough KY jelly in the world to keep my ass from bleeding when I get the AMT jammed up my poop chute.

    Like or Dislike: Thumb up 1 Thumb down 0

    29th November 2012 at 4:30 pm

  7. Llpoh says:

    AMT will hit folks with large deductions. It will not be fun.

    Like or Dislike: Thumb up 1 Thumb down 0

    29th November 2012 at 4:51 pm

  8. a cruel accountant says:

    Fiscal cliff bring it on!

    Like or Dislike: Thumb up 3 Thumb down 0

    29th November 2012 at 12:41 am

Leave a comment

You can add images to your comment by clicking here.