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Anatomy of a Flop: GOP "Cliff" Counter-Offer Fizzles

toucan1953 Wrote: Dec 04, 2012 8:00 PM
Don't want - nor do we need most of the "toys" you mention. Do not need a DVR or a 52" flat screen. I carry a cell phone for work - need a PC for the same reason. Otherwise - you can keep your toys if they make you feel better about yourself
Chestertonfan Wrote: Dec 04, 2012 8:27 PM
Troglodite Wrote: Dec 04, 2012 8:23 PM
Thank you. I guess when you are in a hole, the first thing is to stop digging it deeper. My own criticism of Obama is that he has doubled and tripled down on the errors of his predecessors: borrowing and spending far too much. I do NOT see that this is doing the middle class any good. A real solution? Painful, because it would go against just about everybody's grain. Partial answers: a return to the gold standard, abandonment of "too big to fail," exploitation of domestic energy. The last would provide real jobs, as well as tax revenue, and have other good effects.
toucan1953 Wrote: Dec 04, 2012 8:10 PM
I agree with you regarding leverage as well as too much cheap credit. The question is - what do we do about it?
Troglodite Wrote: Dec 04, 2012 8:07 PM

Reasonable answer, actually. That still leaves the problem of WHY things are not so much better for the middle class. Chestertonfan and I have been poking at one possible answer: too much leverage, fuelled by too much cheap credit. We can discuss this further, if you would like.
toucan1953 Wrote: Dec 04, 2012 8:01 PM
If that is what you call "success" I pity you.

Yesterday evening we reported the details of House Republicans' "fiscal cliff" compromise offer to the White House, which offered real ideological concessions, to the tune of $800 Billion in new revenues.  The plan -- originally conceived last year by the Democratic co-chairman of the debt commission, Erskine Bowles -- also calls for the reduction of both discretionary and mandatory spending, making needed (albeit small-ball) reforms to the largest drivers of our debt.  Unlike the president's risible, widely-panned proposal last week, Republicans' new negotiating posture offers genuine compromise: (a) It has bipartisan origins, (b) it achieves "balance," (c) it...