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The American People are the Big Losers In The Cliff Deal

Posted By Washingtons Blog On January 3, 2013 @ 1:30 am In Think Tank | Comments Disabled

Bipartisan Hosing of the American People

The “fiscal cliff” deal will raise taxes for 77% of the American public [1].

It will add $4 trillion dollars to the deficit over the next 10 years [2].

It will create a drag on the economy equal to 1% of the grodd domestic product [3].

It creates uncertainty in the following areas [4]:

A) the debt limit, B) the sequestered amounts, C) cuts in entitlement spending, D) additional taxes and don’t forget E) the President needs another Continuing Resolution (CR) to keep the lights on.

Blackrock’s Larry Fink is correct when he says [5]:

The American People are the Big Losers In The Cliff Deal.

Fortunately, though, the deal gives Puerto Rican rum makers [6] a tax subsidy.  History repeats … [7]

The entire “fiscal cliff” is a ruse to fleece the people [8]Once again [9], the government has pimped us out [10].

Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2013/01/the-american-people-are-the-big-losers-in-the-cliff-deal/

URLs in this post:

[1] 77% of the American public: http://www.bloomberg.com/news/2013-01-01/senate-passed-deal-means-higher-tax-on-77-of-households.html

[2] $4 trillion dollars to the deficit over the next 10 years: http://thehill.com/blogs/on-the-money/economy/275095-cbo-fiscal-cliff-deal-carries-4-trillion-price-tag

[3] 1% of the grodd domestic product: http://www.zerohedge.com/news/2013-01-02/fiscal-cliff-be-fiscal-drag-amounting-1-2013-gdp

[4] following areas: http://www.zerohedge.com/contributed/2013-01-02/all-facts

[5] says: http://www.zerohedge.com/news/2013-01-02/fair-and-balanced-and-benefitting-just-20-americans

[6] Puerto Rican rum makers: http://cnsnews.com/news/article/senators-got-154-page-fiscal-cliff-bill-3-minutes-voting-it

[7] History repeats …: http://www.washingtonsblog.com/2008/10/rum-wooden-arrows-and-the-pork-barrel-bailout.html

[8] ruse to fleece the people: http://www.washingtonsblog.com/2012/12/its-not-a-fiscal-cliff-its-the-descent-into-lawless-anarchy.html

[9] Once again: http://www.washingtonsblog.com/2012/07/regulators-sleep-with-industry-provided-prostitutes-while-they-pimp-out-the-american-people.html

[10] pimped us out: http://www.washingtonsblog.com/2009/10/chairman-of-the-department-of-economics-at-george-mason-university-politicians-are-not-prostitutes-they-are-pimps.html

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