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Happy New Year: U.S. to Go Over Fiscal Cliff

BlueDevil06 Wrote: Dec 31, 2012 10:30 PM
Oh good. So we are going to raise taxes, which history shows will lower our tax revenue, and we are going to continue to ignore the massive spending increases. Hey America, BOHICA. Why has nobody brought up the fact that Obama's "one-time" stimulus package is still in the budget every year. Everyone agreed that it was supposed only be for one year. We get rid of that and we cut over $750 billion in spending in one-year. We don't even have to do the 10-years savings.

It’s official. The United States will go over the cliff tonight—at least for a little while.  The House announced they will not hold a late-night vote even if legislation cleared the Senate. Although it’s not confirmed, some sources are pointing to Obama’s ‘attitude and criticism of Congress’ during the press conference/pep rally he held this afternoon as reason for the adjournment. 

Earlier today, Sen. McConnell said that he reached an agreement with Vice President Biden on the tax portion of the deal, which calls for individuals making $400,000 and families making $450,000 to see their rates rise to...