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About That Fiscal Cliff

tsimitpo Wrote: Nov 21, 2012 12:41 PM
"Spending cuts"? That's not in the interests of the people they're working for. The best they can do is posture it as a cut in the rate of increase - but they always seem to be able to make up for it "behind the curtain".
OneForFreedom Wrote: Nov 21, 2012 12:54 PM
Just like city governments hold fire & police budgets hostage, the fed would presumably do the same sort of thing holding the military budget hostage, perhaps saying they'd take most cuts from the military to "ensure grandma gets her paycheck." Or maybe they'd hold grandma hostage.

It's all got to decrease - seems we'e gotten used to trillion dollar deficits (wasn't that just supposed to be for one year's worth of emergency?)
tsimitpo Wrote: Nov 21, 2012 12:46 PM
Actually, spending cuts WOULD serve the interests of the people they're working for if it drives the soon-to-be-formerly-working middle class into desperation and willing to take any pittance offered them. I'm all for tax cuts, but spending cuts can also be devastating on a struggling economy that's based on consumerism.
Yikes, we're headed toward a fiscal cliff! It will crush the economy! Or so the media and politicians tell us.

The "cliff" is a series of tax increases and budget cuts that automatically go into effect Jan. 1 unless Congress acts.

Will Congress act?

It will! I see the future: The politicians will meet and fret and hold press conferences and predict disaster. Then they'll reach a deal.

It will just postpone the reckoning, but they'll congratulate themselves, and the media will move on.

America, however, continues to go broke.

"They're not going to admit that we're bankrupt, and they won't...