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TOPIC: The_dreaded_fiscil_cliff
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Um, we are not in Germany...

Fullerton CA
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Google fiscal cliff Germany...

Sanford NC
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fj,

Like Robert, your mindless ranting and raving is beginning to annoy the adults....

East Fishkill NY
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Google fiscal cliff...

Fullerton CA
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Also TBR Obama wants talks to avoid the fiscal cliff~if it is actually what he wanted why would he avoid it?

As the Germans would say "dummkopf"!

Sanford NC
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A recession is not cliff, a depression is not even a cliff. Put down the bong.

Sanford NC
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TBR you are full of shit, that is not the fiscal cliff~~what conspiracy theories have you been reading? Do you have a medical marijuana prescription?

Sanford NC
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More conspiracy theories? Jesus...

The "fiscal cliff" is the expiration of the Bush/Obama tax cuts, the payroll tax reduction, and the Congress passed "sequester," where there will be automatic cuts in domestic and military spending.

The sequester is about 120 billion in cuts per year for the next ten years.

The expiration of the Bush/Obama tax cuts is about 42 billion.

The Congressional Budget Office says that letting all of these changes happen would reduce the deficit by $500 billion in the first year. It would also increase unemployment to 9.1%, and reduce GDP by half a percent, putting us back in recession. They also say we will come out of the recession fairly quickly.

The CBO seems to think it is worth it.

Fullerton CA
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Can someone please explain the math to me. Is it even possible to tax us out from the deficit? seriously, economics is not my strong point (though certainly not the weakest), tell me, how do we tax our way out of the deficit without cutting spending? What am I missing.

From my understanding, allowing the tax cuts to expire, will reduce the deficit by USD 80BB, that's a drop in the bucket, nothing really. Where else is the money going to come from? Anyone?

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How did French and Belgium forces invade Germany? Good Lord are you that lost?

Sanford NC
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TOPIC: The dreaded fiscil cliff
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