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Fiscal Cliff Creates Problems That Don't Faze Obama

Raymond, (Ret) Wrote: Dec 13, 2012 9:33 AM
1. President Obama believes this country is responsible for most of the worlds problems. 2. He believes that is powered by its economic might. 3. He believes its economic might is driven by exploiting the poor and powerless. 4. He wants to reduce its influence around the globe by reducing its economic might. 5. He wants to reduce its economic might by turning this country into a European style socialist state.
Is Barack Obama bluffing when he threatens to go over the fiscal cliff if Republicans refuse to agree to higher tax rates on high earners?

Some analysts think so. Keith Hennessey, a former top staffer for the Bush White House and Senate Republicans and a veteran of budget negotiations, argues that Obama's whole second term would be blighted if he allows the fiscal cliff tax increases and sequestration budget cuts to take place next month.

His argument is based on three assumptions. One is that going over the fiscal cliff would trigger a sharp recession and a weak economy thereafter. Many...