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Open Discussion Discuss Are we going over the cliff. Yes or No at the General Forum; I say no...

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Old 12-29-2012, 09:43 AM
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Default Are we going over the cliff. Yes or No

I say no
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Old 12-29-2012, 09:59 AM
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Default Re: Are we going over the cliff. Yes or No

We're driving up the cliff.....

We are getting close to the peak....

But, we aren't anywhere near going "over" compared to the rest of the world financially for all sorts of reasons....

In the global market place America and our dollar is still top dog.....

China is getting closer but, they've got so much money invested in us, we're kissing cousins.....

Bottom line, we spend way too much and need to back the **** off soon.....

When that will happen is not up to me.....

So, I guess my answer today is no.....
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Old 12-29-2012, 10:26 AM
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Default Re: Are we going over the cliff. Yes or No

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Originally Posted by Dave1 View Post
We're driving up the cliff.....

We are getting close to the peak....

But, we aren't anywhere near going "over" compared to the rest of the world financially for all sorts of reasons....

In the global market place America and our dollar is still top dog.....

China is getting closer but, they've got so much money invested in us, we're kissing cousins.....

Bottom line, we spend way too much and need to back the **** off soon.....

When that will happen is not up to me.....

So, I guess my answer today is no.....
Yes, going over the Fiscal Cliff serves the purposes of the House Republican's and the President. Than we can get back to four more years of the two blaming each other as to who was responsible for allowing it to happen - another do-nothing four years. Even if they wanted a last minute deal, doubt if one could be put together now. The President had the power to call Congress back into special session, but instead, went on vacation to Hawaii, so much for his concern for the American Middle and long-term unemployed.

The Congress went on Christmas vacation, getting all of them back, with weather concerns and such, in time to hammer out some type of compromise, or kick-the-can proposal, which was the original cause for the Fiscal Cliff last year, too late now. Of course, they are intransigent regarding the American people, and steadfast in cutting government across the board and protecting big corporations and the mega wealthy from paying taxes.

So much for Washington bipartisanship. Hasn't existed in years, and this is exactly what the voters wanted putting Tea Party in charge of Congress, and voting a totally inexperienced junior Senator into the White House. Well done...........stan
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Old 12-29-2012, 11:36 AM
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Default Re: Are we going over the cliff. Yes or No

I am not into being depressed so I have been avoiding this news. All I hear is once in awhile a report we're not there yet. Did read an article this morning the President is trying some political heat. What he doesn't understand is these characters don't make their money from "their constituents" anymore. The extra curricular benefits by far out weigh what we're paying them.
So my answer is --we're flucked.
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Old 12-30-2012, 03:46 AM
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Default Re: Are we going over the cliff. Yes or No

Sums it up...

US Budget for Dummies

Quote:
Quote:
* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000

Let’s now remove 8 zeros and pretend it’s a household budget:

* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts so far: $38.50
Make sense now?
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Old 12-30-2012, 08:32 AM
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Default Re: Are we going over the cliff. Yes or No

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Originally Posted by cnredd View Post
Sums it up...

US Budget for Dummies
It bears noting that the Federal family is only paying interest on the variable interest credit card balance. Right now the creditor is satisfied with 2%, around $2,800 annually. Should the creditor elect to increase interest rates to their historic average of 5.5%, just servicing the debt will require 1/3 of the family's actual income.

Interest rates returning to their historic levels would most likely be accompanied by freezing the credit limit of the Federal family. That would reduce family spending by $13K. The total reduction of funds available for spending would be around $20K. That leaves our Federal family with less than half of its current spending funds, $32 - ($7 + $13). Arithmetic indeed.
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Old 12-30-2012, 09:24 AM
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Default Re: Are we going over the cliff. Yes or No

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Originally Posted by cnredd View Post
Sums it up...

US Budget for Dummies
Well, bringing logic to the thread won't help redd.
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Old 12-30-2012, 11:49 AM
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Default Re: Are we going over the cliff. Yes or No

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Originally Posted by cnredd View Post
Sums it up...

US Budget for Dummies
Did you want to start a thread about something?
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Old 12-30-2012, 11:51 AM
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Default Re: Are we going over the cliff. Yes or No

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Well, bringing logic to the thread won't help redd.
How does that bring logic to a question that wasn't asked? I mean are you saying we are in debt and so we should go off the cliff? Or are you saying we are in debt and we shouldn't go off the cliff?

PLEASE READ THE TITLE
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Old 12-30-2012, 11:51 AM
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Default Re: Are we going over the cliff. Yes or No

In the example provided, my guess is that GOP would like to reduce the "family's income" instead of raising it AND lowering costs. Tax dollars are the family's income.
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