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  1. #1
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    Default Fiscal Cliff - Avoided?

    I just heard on the news that the fiscal cliff has been avoided. A deal has been reached which will extend unemployment benefits, continue the tax cuts for the middle class, and not sure about the rest. We dodged a huge bullet.

    Happy New Year Everyone!
    Yogurt - If you're so cultured, how come I never see you at the opera? Steven Colbert



  2. #2
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    I think they are just delaying the inevitable, unless we can drastically reduce spending. Something this administration hasn't done yet, and I don't see them doing it effectively in the future. I am anticipating being where Greece is in about 4 yrs...


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  3. #3
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    My understanding is that it's expected to pass the Senate, but the House could still choose to screw around. Sounds like the deal is not half bad, extending unemployment, tax rates stay the same up to $400k at which point they rise, estate tax up to 40%, several crucial tax cuts for the middle class are extended, and they extended the farm bill so we can all still buy milk. However, they pushed off sequestration for 2 months, the same deadline for us to hit the debt ceiling and start that fight. Again.

    They took the nastiest bite out of their own mess, but there are certainly more battles to come....


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  4. #4
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    Default

    That clanking sound you here is are the financial problems of the country being kicked down the road like a can. Again.

    The deal does nothing to address any issues the country is facing. As someone said above, it just delays the inevitable.

    We have zero leadership in this country in the House, Senate or Presidency.
    "I couldn't find my keys, so I put her in the trunk"


    14 members found this post helpful.

  5. #5
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    Default

    Quote Originally Posted by Mtn trails View Post
    I just heard on the news that the fiscal cliff has been avoided. A deal has been reached which will extend unemployment benefits, continue the tax cuts for the middle class, and not sure about the rest. We dodged a huge bullet.

    Happy New Year Everyone!
    I love that I have been relegated to lower middle class now. I guess $400k a year is the new middle class?? HaHaha!!!!!!

    And how messed up is it that the republicans were not willing to raise taxes, instead waiting to "go over the cliff" so that they could "lower taxes" instead. How effing stupid do they think their constituents are? Or, I suppose some of them really are that stupid and will endlessly parrot the mantra that the Republicans lowered taxes, just as they will be coached to do.

    And as for the Democrats? They have managed to avoid any cuts. Unbelievable.


    5 members found this post helpful.

  6. #6
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    Sketcher the democrats are as stupid as the republicans because they believe that raising taxes on 2% of the country is going to solve the problem. The dems are completely gutless because they won't address the spending issues.

    Even extremely liberal economists like Paul Krugman and Robert Reich have said the democratic approach doesn't solve the problems.
    "I couldn't find my keys, so I put her in the trunk"


    2 members found this post helpful.

  7. #7
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    No, the democrats do not believe raising taxes on the "rich" will help a thing. It is a publicity stunt designed to take advantage of the fact that there truly is a serious imbalance in the taxes the wealthy pay vs the average. I'm good with the publicity stunt though because I do think the imbalances are grossly unfair and a strong sign that the wealthy own our government.

    I think it will be easier down the road for the democrats to make some cuts more palatable if the general public perceives that first the wealthy have a fair amount of skin in the game like the rest of us. We could start by having higher income earners paying the same amount of effective taxes as the rest of us. With the exception of retirees over a certain age and under a certain income.


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  8. #8
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    Default

    I think it is useless to argue over which party is stupid or at fault. They both are. One party has an issue with taxes, one with over spending. That means that we the people are basically screwed, if not know then in the future.


    10 members found this post helpful.

  9. #9
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    Default

    Quote Originally Posted by bcody View Post
    I think it is useless to argue over which party is stupid or at fault. They both are. One party has an issue with taxes, one with over spending. That means that we the people are basically screwed, if not know then in the future.
    Pretty much! Happy New Year. Eat,drink and be merry.


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  10. #10
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    The House will vote at Noon Eastern Time, and then it passes and life goes on. Then in two months both houses have to do something again, or sequestration happens then. It would be nice if everyone involved would get down to work and do something so we all don't keep staggering from deadline to deadline.
    You can't fix stupid-Ron White


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  11. #11
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    Quote Originally Posted by JanM View Post
    The House will vote at Noon Eastern Time, and then it passes and life goes on. Then in two months both houses have to do something again, or sequestration happens then. It would be nice if everyone involved would get down to work and do something so we all don't keep staggering from deadline to deadline.
    The trouble is that, for this to happen, we need statesmen, not politicians, and we seem to be woefully short, in both political parties.
    Originally Posted by Alagirl
    We just love to shame poor people...when in reality, we are all just peasants.


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  12. #12
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    Default

    Quote Originally Posted by Mtn trails View Post
    I just heard on the news that the fiscal cliff has been avoided. A deal has been reached which will extend unemployment benefits, continue the tax cuts for the middle class, and not sure about the rest. We dodged a huge bullet.

    Happy New Year Everyone!
    If Congress was a horse trainer and I had sent them a horse to train for 6 months and "this" was the result of the training they did, I would be so pissed.off.

    We are not being served, we are being ruled.


    6 members found this post helpful.

  13. #13
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    Default

    the House can blue slip the Senate's bill returning their bill without acting upon it



  14. #14
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    Default

    I found it disturbing to hear the Obama 'gave permission' for Democrats to vote FOR the bill. Sound a little too dictator to me.

    I thought they were supposed to represent the wishes of their constituents...not those of Valerie Jarrett. Guess it doesn't pay to communicate with your congress person anymore.


    6 members found this post helpful.

  15. #15
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    Mtn trails, we may have dodged a huge bullet with this but methinks they are still shooting at us. :-(


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  16. #16
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    Only the Senate has passed the bill. As of 3 pm EST the House had not even scheduled a vote. There is talk that they will, at best, amend it and send it back to the Senate.

    Incidentally, this Congress ends at noon 1/3/2013, which is when the newly elected Reps and Senators will be sworn in.



  17. #17
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    Cantor has announced that he does not support the bill as it stands. There's talk of trying to amend it. Extreme tone deafness on the part of the Republican caucus, given the 89-8 vote for the billl in the Senate.

    So we very likely will end up having the whole thing scrapped with a do-over after the new Congress is sworn in.

    Expecting markets to plunge on Wednesday if this think does not get put up for a vote as is (speculation is that it would likely pass).
    Only one cat - must not be totally crazy yet!


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  18. #18
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    Default

    I'm starting tio think it would have been best to go "over the cliff". At least there would have been some change, as painful as it may have been for our economy.


    1 members found this post helpful.

  19. #19
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    Looks like we are going over the cliff. I may have heard wrong, but I think they said the ratio of revenue to spending reduction was 41-1. Does nothing to try to fix long term deficit problems and doesn't even come close to any kind of balanced approach. I was only half listening, so am NOT sure that's fact.


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  20. #20
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    Quote Originally Posted by minnie View Post
    Looks like we are going over the cliff. I may have heard wrong, but I think they said the ratio of revenue to spending reduction was 41-1. Does nothing to try to fix long term deficit problems and doesn't even come close to any kind of balanced approach. I was only half listening, so am NOT sure that's fact.
    This graph was linked from Drudge. Ideology, meet reality.
    http://www.zerohedge.com/news/2013-0...ke-perspective


    2 members found this post helpful.

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