Political Wrinkles  

Go Back   Political Wrinkles > General Forum > Open Discussion
Register FAQDonate PW Store PW Trivia Members List Calendar Search Today's Posts Mark Forums Read

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

Reply
 
Share LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 12-29-2012, 08:43 AM
Mikeyy's Avatar
World Traveler
 
Join Date: Oct 2007
Location: What day is it?
Posts: 42,422
Thanks: 12,152
Thanked 12,950 Times in 9,250 Posts
Default Are we going over the cliff. Yes or No

I say no
__________________
Hangover cure: First, Take the juice from two quarts of gin.....
Reply With Quote
  #2 (permalink)  
Old 12-29-2012, 08:59 AM
Dave1's Avatar
...Fair and Balanced...
 
Join Date: Feb 2010
Location: Houston, Texas
Gender: Male
Posts: 4,656
Thanks: 2,085
Thanked 2,977 Times in 1,780 Posts
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.....
Reply With Quote
The Following User Says Thank You to Dave1 For This Useful Post:
  #3 (permalink)  
Old 12-29-2012, 09:26 AM
Master
 
Join Date: Mar 2012
Posts: 1,152
Thanks: 519
Thanked 578 Times in 381 Posts
Default Re: Are we going over the cliff. Yes or No

Quote:
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
Reply With Quote
  #4 (permalink)  
Old 12-29-2012, 10:36 AM
saltwn's Avatar
PW Enlightenment
 
Join Date: Oct 2007
Location: in the natural state
Posts: 50,329
Thanks: 37,186
Thanked 19,394 Times in 13,363 Posts
Send a message via Yahoo to saltwn
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.
__________________
the cheese done slipped of the teacakes
Reply With Quote
The Following 3 Users Say Thank You to saltwn For This Useful Post:
  #5 (permalink)  
Old 12-30-2012, 02:46 AM
cnredd's Avatar
Administrator
 
Join Date: Oct 2007
Location: Philadelphia
Gender: Male
Posts: 43,231
Thanks: 1,246
Thanked 22,204 Times in 13,800 Posts
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

Letís now remove 8 zeros and pretend itís 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?
__________________
"You get the respect that you give" - cnredd
Reply With Quote
The Following User Says Thank You to cnredd For This Useful Post:
  #6 (permalink)  
Old 12-30-2012, 07:32 AM
Conservative Sage
 
Join Date: Mar 2010
Location: Scottsdale, AZ
Posts: 7,812
Thanks: 2,576
Thanked 2,973 Times in 2,037 Posts
Send a message via ICQ to AZRWinger
Default Re: Are we going over the cliff. Yes or No

Quote:
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.
Reply With Quote
  #7 (permalink)  
Old 12-30-2012, 08:24 AM
MrLiberty's Avatar
professional curmudgeon
 
Join Date: Mar 2009
Gender: Male
Posts: 21,730
Thanks: 12,130
Thanked 11,555 Times in 7,699 Posts
Default Re: Are we going over the cliff. Yes or No

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

US Budget for Dummies
Well, bringing logic to the thread won't help redd.
__________________
The duty of a patriot is to protect his country from its government

Thomas Paine
Reply With Quote
  #8 (permalink)  
Old 12-30-2012, 10:49 AM
Mikeyy's Avatar
World Traveler
 
Join Date: Oct 2007
Location: What day is it?
Posts: 42,422
Thanks: 12,152
Thanked 12,950 Times in 9,250 Posts
Default Re: Are we going over the cliff. Yes or No

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

US Budget for Dummies
Did you want to start a thread about something?
__________________
Hangover cure: First, Take the juice from two quarts of gin.....
Reply With Quote
  #9 (permalink)  
Old 12-30-2012, 10:51 AM
Mikeyy's Avatar
World Traveler
 
Join Date: Oct 2007
Location: What day is it?
Posts: 42,422
Thanks: 12,152
Thanked 12,950 Times in 9,250 Posts
Default Re: Are we going over the cliff. Yes or No

Quote:
Originally Posted by MrLiberty View Post
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
__________________
Hangover cure: First, Take the juice from two quarts of gin.....
Reply With Quote
  #10 (permalink)  
Old 12-30-2012, 10:51 AM
Banned
 
Join Date: Oct 2009
Gender: Female
Posts: 7,655
Thanks: 1,084
Thanked 1,422 Times in 1,111 Posts
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.
Reply With Quote
Reply

Tags
are, cliff, going, over, the, yes

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Forum Jump


All times are GMT -5. The time now is 04:52 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.

Content Relevant URLs by vBSEO 3.2.0