The “Fiscal Cliff” at the end of 2012

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The Congressional Budget Office issued another round of warnings on Wednesday over the coming “fiscal cliff” at the end of the year. A series of deep spending cuts and tax increases are set to go into effect January 1st of next year, and the CBO is saying that if Congress doesn’t do something about it, then United States economy is guaranteed to sink into another recession.

This fiscal cliff is a result of the debt-limit deal struck last year, which Speaker of the House John Boehner bragged Republicans got 98% of what they wanted in it. So now – staring down a deeper recession – we know who to blame for this mess.

Thom Hartmann Administrator's picture
Thom Hartmann A...
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Wouldn't this then become the "Great Obama recession" that will be inherited by Romney/Ryan?

It will give Romney 8 years to blame Obama for the state of the economy.

Help avoid this

http://www.jillstein.org/

Redwing's picture
Redwing
Joined:
Jun. 21, 2012 4:12 am

Are you suggesting that people stop voting for either evil or evil?

The two wings of the Corporate Party wouldn't like that.

I voted Green in the last election.

Dems offer a wee bit of sugar to make the medicine go down. Republicans suggest you buy your own. Big deal.

Regardless of the rhetoric, both parties are supporting austerity. "Austerity is a term from economics that describes a policy where nations reduce living standards,"

That tends to increase unemployment and lower tax revenues leading to more austerity which increases unemployment and lowers tax revenues leading to more austerity which, etc., etc., etc.

Move over, Greece, here we come.

Retired Monk - "Ideology is a disease"

polycarp2
Joined:
Jul. 31, 2007 3:01 pm

Welcome back, Thom!

Here's a link to an article from Brussels on bankers seeking separation. Hope comes from outside the trickle-down short-term fixation. You can download the 67-page "Investing, not Betting" by www.finance-watch.org that focuses on the social obligations of financial markets and the dystopia of high frequency trading. Three milli-seconds is the average "betting" time.

Education investments create ten times as many jobs as a chemical dye plant investment, the Swiss economist Hans Christoph Binswanger explains. Abandoning quantitative growth for qualitative growth is the only way of solving the three crises of mass unemployment, environment destruction and trade imbalances. The President and Congress must wake up and resist totalitarian economics.

http://www.finance-watch.org/2012/07/who-are-the-senior-bankers-calling-for-separation/

In "The Extremist Society," Tomasc Konicz explains that society imagines itself a business. Only what contributes to business profit deserves to live. "You are nothing; the economic location is everything!"

http://portland.indymedia.org/en/2012/08/417566.shtml

demandside's picture
demandside
Joined:
Jul. 31, 2007 3:01 pm
Quote Redwing:

Help avoid this

http://www.jillstein.org/

You end every one of your posts with the link to jillstein.org. No one else does this. I've never clicked on the link, I have no idea what that website is.

I don't think it's unfair to start flagging all your posts with this link as "offensive." That's what I will start doing.

chilidog
Joined:
Jul. 31, 2007 3:01 pm

Enlighten yourself with the Green Party.

Redwing's picture
Redwing
Joined:
Jun. 21, 2012 4:12 am

What a dead end! Everyone wants to cut the deficit and debt, but no one wants their sacred cows cut. Repubs-defense. Demos-education and entitlements.

DynoDon
Joined:
Jun. 29, 2012 9:24 am

Not me. I want to increase deficits and lower taxes. Please see

–Did you know the economy is running a $1.2 trillion profit? « #Monetary Sovereignty – Mitchell

at

http://rodgermmitchell.wordpress.com/2012/08/09/did-you-know-the-economy...

pshakkottai's picture
pshakkottai
Joined:
Jul. 11, 2011 10:27 am

we could tax everybody at 100 percent steall all private and public pensions and cut all welfare and education and it would not dent the derivative debt that we supposedly owe to the banks. raising taxes is a false solution and cutting services is a false solution. the solution is to wipe out the derivative debt withdraw from the global markets bring back constitutional money and practice protectionism. we cant compete in a global market against slave labor. its globalism that it ruining this once great republic

antiglobalist's picture
antiglobalist
Joined:
Mar. 18, 2011 8:53 am
Quote Redwing:

Enlighten yourself with the Green Party.

Just don't expect redwhat to flush his vote into the green toilet.

Never in a million years. It's his little part in the reality show he believes he's living in, where he's a master spy, screwing the enemy from behind their own lines.

anonymous green
Joined:
Jan. 5, 2012 10:47 am

The fiscal cliff is imaginary, since it only occurs if we let it.

Why fear what we could prevent, by voting for Obama.

Mitt and his ilk would let America burn, then buy us up in a fire sale.

anonymous green
Joined:
Jan. 5, 2012 10:47 am
Quote DynoDon:

What a dead end! Everyone wants to cut the deficit and debt, but no one wants their sacred cows cut. Repubs-defense. Demos-education and entitlements.

And, of course, Republicans don't want to give up the "entitlement" to a lower tax rate for the wealthiest...15% on the bulk of their income. Business doesn't want to give up its "entitlements" to the public purse that exceed "social entitlements". The entitlement to the Defense Budget is a large part of that.

The oil industry tycoons will probably keep right on receiving their entitlements we call subsidies no matter how much they make. Financiers will undoubtedly keep right on receiving their entitlements every time a derivative bubble collapses.

However, people definately aren't entitled to the basic necessities required to maintain human life. If they had any sense, they'd collapse an economy, get a billion dollar bonus as a reward and be entitled to keep most of it with a really low tax rate on it.

Entitlements of, by and for a very, very few wealthy individuals are sacrosanct. Can't touch 'em.

Retired Monk - "Ideology is a disease"

polycarp2
Joined:
Jul. 31, 2007 3:01 pm
Quote DynoDon:

What a dead end! Everyone wants to cut the deficit and debt, but no one wants their sacred cows cut. Repubs-defense. Demos-education and entitlements.

You tell me how in the hell social programs for the POOR and education for an evolving and advanced world can be sacred cows.

That argument is ridiculous. The social programs and the money for education are on the cusp of effectiveness as it is. The military however isn't even close to the cusp. Corporate welfare doesn't even get mentioned in the conversation. How do you cut from the poor when they don't have enough as it is? How do you cut from military spending when they spend over 5 times as much as any other country?

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Bush_Wacker
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Jun. 25, 2011 6:53 am

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The world we're leaving for today's teens...

Without immediate global action on climate change, today's teenagers will be forced to live with the consequences of our inaction. The World Bank has issued their third report of climate change, and it says that global temperatures could rise by as much as 4 degrees Celsius by the time today's teens hit their 80th birthday.

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