Why shouldn't we go over the fiscal cliff?

Question

other than the media calls it a fiscal cliff and that sounds really bad.

ClubDirt · Answer

other than the media calls it a fiscal cliff and that sounds really bad.

SarasotaSlim · Answer

The &#x201C;fiscal cliff&#x201D; as defined/coined by Federal Reserve Board Chairman Ben Bernanke = many major fiscal events happening simultaneously at the close of 2012....&#xD;&#xA;So,if you don&#x27;t mind having zero growth for while and a new recession ..drive it over the cliff..

ClubDirt · Answer

what should happen after years of spending way too much and printing way too much money? how else will we balance the budget if that's what we want to do? why shouldn't there be repercussions for our recent unsustainable spending habits?

ClubDirt · Answer

the media talks about this fiscal cliff like it's the worst thing in the world. i'm no economist but i bet there's an argument that the fiscal cliff is the best of any viable options for this country. no on talks about that.

captjohn67 · Answer

&#xD;&#xA;if we go over the fiscal cliff and budget sequestration measures take place, "we" will see increases of 19% in tax revenue and a reduction in spending of 0.25%. in 2013 We will not adress entitlements such as social security, medicaid, federal pay (including military pay and pensions) and veterans benefits. Considering the gov&#x27;t pays out 2.4 trillion per year in entitlement spending, and virtually none of it would be on the table at all, no, i don&#x27;t see going over the fiscal cliff as the best answer. Simply put, we have been living a lie for so long that whatever decisions are made (and they will certainly be shitty ones considering our leadership on both sides of the aisle) we will pay dearly.

ClubDirt · Answer

captain, i saw an article that estimated we'd be close to balancing the budget in 20125 or so if all fiscal cliff measures took place. i have no idea if it's accurate although i think the guy writing it is pretty smart. i'll try to find it.

my guess is if politicians say we should not go over the fiscal cliff, then it's probably a good idea to go over the fiscal cliff. i'm sure politicians are just looking for a short term measure that will result in a short term reelection but no one is interested in making tough decisions now that would negatively affect short term election chances but actually help us in the long run.

captjohn67 · Answer

hell you might be right, for i am certainly no economist either. I do find it comical that Obama wants to be able to raise the debt ceiling without congressional approval. It also appears that the big orange prick (that would be Boehner) has kicked four conservative members off of the steering committee for apparently not towing the party line. Man we&#x27;re so screwed

ClubDirt · Answer

we are screwed. between these guys just looking out for special interests and none of them willing to accept short term medicine (i.e. 2-5 years when there are elections in 2014 and 2016) in favor of long term benefits, how will anything good happen. and no one in the media will call them out on it.

AcerRubrum · Answer

Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies. Groucho Marx

correct we ARE screwed every which way.....these clowns accomplish NADA....sick no common sense in that town grrrr

chilitokid · Answer

kinda reminds me of Y2K......too many chicken little&#x27;s with the world&#x27;s gonna end mentality

SarasotaSlim · Answer

Why shouldn&#x27;t we go over the fiscal cliff?&#xD;&#xA;Treasury Secretary Geither told CNBC today the Obama administration was "absolutely" ready to go over the cliff if the GOP doesn&#x27;t agree to raise tax rates on the wealthy... &#xD;&#xA;That&#x27;s because we probably went off the fiscal cliff two years ago..starting with QE- 2 and raising the real ceiling  ..the only question is how hard will the landing be ..  real hard or a little less than real hard landing .. (a steep rise in taxes or a more gradual rise in taxes) ..

ClubDirt · Answer

Treasury Secretary Geither told CNBC today the Obama administration was &#xD;&#xA;"absolutely" ready to go over the cliff if the GOP doesn&#x27;t agree to &#xD;&#xA;raise tax rates on the wealthy...that just sounds like pandering to me, preemptive statements to blame the other side in case they don&#x27;t get a deal done.i&#x27;d like to hear some arguments in support of going over the fiscal cliff and how soon it might result in a more sustainable budget situation versus when things will get better if we keep fuckin around and trying to look better than the other side on these issues.

thirdperson · Answer

There is reluctance to cut spending and increase taxes because of weak economy.  Ideally, the best time for austerity is during boom times.    Government may prefer to raise debt level  to spread pain over a longer period of time.  But politically, better to suffer in first year instead of final year in power before elections.  For the U.S. to succeed in curing its deficit problem, Americans must believe in making noble sacrifices together.

esplanade · Answer

Time to reduce real spending, not just "reduce" the rate of increase, where they claim to be spending less while spending more than they spent the previous year.

wallstreetcappers · Answer

They will pull some late deal that kicks the can down the road again.

SarasotaSlim · Answer

They will come up with some kind of late deal and just kick the can down the road again,but that can is getting heavier and bigger it doesn't go as far anymore...

At some point and soon we will have to pay the piper..and the later it is the more it will hurt..

SirJohnDrake · Answer

Another 4 yrs with that clown mr obama at the helm is going to be mighty rough for millions of Americans.&#xD;&#xA;Well they got what they asked for!

Why shouldn't we go over the fiscal cliff?

Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies. Groucho Marx

Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies. Groucho Marx

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