Let's go over the cliff

[DJW]

According to CNN-MONEY:

The fiscal cliff includes the expiration of the Bush tax cuts, the onset of $1 trillion in blunt spending cuts, and a reduction in Medicare doctors' pay.
If all the provisions go into effect, they would take more than $500 billion out of the economy in 2013 alone.

I say...let's go over that cliff. Sure it's only 1/3rd of the $1.6T/yr deficit, but we gotta start somewhere.

I say we jump.

[Sage Counsel]

Worked for Thelma and Louise.....

[Michael Psycle]

I say we jump.

Will you be selling tickets to the event?

[DJW]

Originally Posted by Michael Psycle

Will you be selling tickets to the event?

No, everyone will just need to bring a dish to pass.

[Sage Counsel]

Originally Posted by DJW

No, everyone will just need to bring a dish to pass.

IF we go over the fiscal cliff nobody will have a pot to pass in.... (spelling intentional)

[DJW]

Originally Posted by Sage Counsel

IF we go over the fiscal cliff nobody will have a pot to pass in.... (spelling intentional)

Really? So you're against going over the fiscal cliff?

[Michael Psycle]

Originally Posted by DJW

Really? So you're against going over the fiscal cliff?

I am. The consequences would be disastrous.

[DJW]

Well according to CNN: we're at the edge so, you're saying we:

The fiscal cliff includes the expiration of the Bush tax cuts...

Shoudn't let the Bush tax cuts expire?

the onset of $1 trillion in blunt spending cuts...

Shouldn't allow the $1 trillion spending cuts?

and a reduction in Medicare doctors' pay...

Shouldn't reduce Medicare doctor's pay?

If all the provisions go into effect, they would take more than $500 billion out of the economy in 2013 alone.

500 billion is only 1/3 of what we have to borrow just to pay next year's deficit. Should we really just put ANOTHER 500 billion on the credit card?

[DJW]

And of course you could just raise a few billion by only raising taxes on the "wealthy" but if you do you cut the GDP by half..and 1/2 of the one-percent growth we have now would be like...um...recession-lite

You Tube

You Tube

[DJW]

Of course we could just take the IMF's advice:

...The U.S., meanwhile, must ensure that major tax breaks don't expire early next year just as substantial spending cuts are being instituted, according to the IMF. To maintain consumer and business confidence, officials must also raise the federal debt ceiling, it said.

Otherwise, the political gridlock could cause the country to plunge off what's being called "the fiscal cliff," stalling growth and causing "significant spillovers to the rest of the world," according to the IMF. The U.S. could then face another market-shaking debt downgrade.

Let me think...we stand on the edge hand in hand with the IMF and watch the world's economy disengrate...or we just jump.

I say jump, which is what we should have done in 2009 when Bush, Obama, Clinton and McCain all kicked the can down the road. Now, we're out of road and the can is 5 times the size it was just 4 years ago.

[DJW]

It appears that the Left has decided to take my advice. I posted this original thread back in July. Back then everyone thought "jumping" was a bad idea. Not anymore...it seems the MSM is preparing us for just that...and now some on the Left is all for it too.

What the hell, the pubs, dems and Pres all thought it was "great" idea just a few months ago...figuring the public would pressure the other side to compromise.

What the heck...let's just go over. Let's end these outrageous "bush tax cuts," and cut a few hundred billion from defense and medicare.

The fed thinks it's a bad idea...so, hey...that has to be a good sign...

"If the fiscal cliff was allowed to occur and certainly if it were sustained for any period, it could have a very negative affect on hiring, jobs, wages, economic activity, investment and of course, the consequences of that would be felt by everybody," Bernanke said at a press conference Wednesday.

I say we jump.

[Fred1369]

Wasn't this how the compromise was supossed to work anyway ... increase in taxes and reduction in spending? All the cliff is doing is taking it farther than if their egos did not get in the way.

[boston62]

Originally Posted by DJW

It appears that the Left has decided to take my advice. I posted this original thread back in July. Back then everyone thought "jumping" was a bad idea. Not anymore...it seems the MSM is preparing us for just that...and now some on the Left is all for it too.

What the hell, the pubs, dems and Pres all thought it was "great" idea just a few months ago...figuring the public would pressure the other side to compromise.

What the heck...let's just go over. Let's end these outrageous "bush tax cuts," and cut a few hundred billion from defense and medicare.

The fed thinks it's a bad idea...so, hey...that has to be a good sign...



I say we jump.

It would hurt the rich real bad, dividends, capital gains, they won't like that. The middle class & poor are use to it, ever notice that rich people commit more suicides than poor, they'll be jumping out windows like when the markets crash.

[thefour]

Originally Posted by boston62

It would hurt the rich real bad, dividends, capital gains, they won't like that. The middle class & poor are use to it, ever notice that rich people commit more suicides than poor, they'll be jumping out windows like when the markets crash.

Could you define rich?

[DJW]

Originally Posted by boston62

It would hurt the rich real bad, dividends, capital gains, they won't like that. The middle class & poor are use to it, ever notice that rich people commit more suicides than poor, they'll be jumping out windows like when the markets crash.

Great...and "decrease the surplus population."

PS. I though the "rich" didn't need the money, I don't know why they would be offing themselves. Aren't Buffet and Springsteen begging to pay more taxes? Why kill themselves?

As for the rich and the middle class, they voted for socialism...at least that's what we're being told. I'm sure a few more dollars from their pockets to feed the beast won't be a problem.