Source: Traders Calm as CBO Warns Fiscal Cliff Will Put Us Back in Recession

Category: Media, Video

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

7 Responses to “How Much Does the Fiscal Cliff Matter?”

  1. VennData says:

    Well not for these guys…

    AVERAGE CEO PAY HIGHER THAN BEFORE MELTDOWN – “Profits at big U.S. companies broke records last year, and so did pay for CEOs. The head of a typical public company made $9.6 million in 2011 … up 6 percent from the year before, according to an analysis by The Associated Press using data from Equilar, an executive pay research firm. The figure is the highest since the AP began tracking executive compensation in 2006. … Companies trimmed cash bonuses but handed out more in stock awards.

    These guys MUST have their temporary tax cuts extended! They must get FURTHER tax cuts per the Ryan plan Romney wants even if that means unspecified cuts of 750B. Unspecified….

  2. VennData says:

    The GOP Media Machine is worried that the removal of these temporary tax cutshurt their big donors. Small increases in taxes, getting rid of the generous unemployment, small, long-term cuts to the military and entitlements are exactly whatwe need to show the world and mrkets we are serious about fiscal restraint. This talk about fiscal cliff is complete rubbish, we MUST end the unsustainable debt build up Bush put us on. Sorry if the uber rich have to help. Leave the nation if you don’t like it.

    When GOP Media Machine lackeys like Ed Lazaer start hyperventalating, you know the fat cat tax cuts are under threat

  3. ilsm says:

    “long-term cuts to the military”…………..

    To bring US military spending to rest of workld levels requires a reduction from 5% of GDP to 1.5% of GDP.

    The only empire on earth does not need to spend 3 times too much.

    War spending is entitlements for a few at the expense of the many.

    Common defense has nothing to do with empire and building nations at great cost.

  4. Conan says:

    Doing nothing is a decision…..This is happening by agreement and by default….Neither Democrat or Republican can be seen in public making a negotiated agreement. This would burst their bubble of being mortal enemies!!

    There is many things not to like about what is going to happen, but maybe it is a situation of no pain, no gain. Since nothing can happen in a positive, proactive manner, maybe with enough pressure of dislikes and “crisis” something can be hammered out to benefit the country and get us back to fiscal responsibility.

    However if history is any indicator of future performance, I wouldn’t bet on it, Washington is expert, on both sides of the aisle, of saying one thing to Main Street and in the back rooms and burried under pages of legislation or just out right not enfourcing the laws, protecting the special intersts.

  5. VennData says:

    Only in GOP Media Machine-land is

    1) cutting unemployment benefits
    2) lowering defense spending after ending two wars
    3) cutting Medicare reimbursements
    4) raising the payroll tax back to where it was on workers

    …a DISASTER if it is combined with ending the temporary Bush tax cuts for the rich where Romney’s 15% rate is too high. if you’re looking for a chance to get back into the market? Any time you think the “Fiscal Cliff” talk is pushing things down is the perfect time. THE US IS GETTING A HANDLE ON THE DEFICIT… is that CLEAR?

  6. HarleyHoward says:

    THE US IS GETTING A HANDLE ON THE DEFICIT… is that CLEAR?

    Are you guys OUT OF YOUR FUCKING MINDS????

    I do appreciate you blowing smoke up each others asses though.

  7. Fred Pote says:

    The “fiscal crisis” in our Country was developed by our Government leadership through failing to address the financial responsibilities of the expenditures committed to, but not paid for. The unplanned for expenditures accumulate and are added to the National debt from yearly budget overruns. “The can is kicked down the road” politically through lack of Congressional action to address the growing debt. We will continue down this path until the condition threatens our Country’s financial stability.

    Neither political party wants to bear the responsibility for taking the drastic action required to address the problem. Bilateral political cooperation cannot be expected because each party will distance themselves from this explosive issue, and each will try to lay the responsibility on the other party.

    Politicians run our Government and got us into the condition, but now find the debt too big to resolve, politically. It will take a National financial plan 30 years to bring our National debt back to a 50% goal of GDP. This would be doable, practical, and plausible, but because of the nature of our political duopoly, practically impossible.

    We need an overhaul in our Government staff structure featuring the following changes. (1) All elected officials should serve for just one term. No reelections. No campaign funds. No “professional career politicians”. “Public Service” would be going to Washington DC, and doing your best to represent your fellow citizens. (2) The President must be given a “line item veto” to have some control over Legislators. (3) The President must demonstrate leadership on a National basis by providing an accountable yearly budget for the full term in office, adjusted yearly. Submit a fully developed Agenda prioritizing major issues. The President must communicate to all citizens the prioritized major issues, and establish a National Public Survey system as a means to gain insight into the “Will of the People” on these issues. Congress would be provided these results and be held accountable.

    Drastic action is called for to resolve the “fiscal crises” and address the many other crises items that are evident at this time.