In regards to allowing tax rates to increase on ANY Americans... the Democrats are playing with fire...
Federal Reserve Chairman Ben Bernanke delivered one of his bleakest assessments of the U.S. economy on Tuesday, warning of dire risks surrounding the approaching fiscal cliff.
Bernanke ticked off economic indicators, one by one, each likely to slow in coming months. According to the Fed chairman, real GDP is expected to grow at less than a 2 percent annual rate in the second quarter of 2012 after expanding by 2 percent in the first quarter. Household spending is likely to slow. Although there have been “modest” signs of improvement, progress in the housing market is stymied by worries about the economy and tight lending standards. Investment demand appears likely to remain weak. The unemployment rate will probably remain at 7 percent or higher at the end of 2014. Economic growth will pick up only “very gradually.”
Bernanke has warned lawmakers repeatedly that their failure to stop the combination of tax increases and spending cuts that are set to occur at the end of the year, also known as the “fiscal cliff,” will hurt the economy. On Tuesday, he emphasized the tightrope lawmakers must walk.
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Its going to be busy in congress in Nov-Dec. The party politicians on both sides are putting their re-election ahead of the country. Pretty sad really.
The best case scenario seems to be a status quo kick the can and higher debt ceiling. Not much to be optimistic about huh?
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
Like LOL said, no matter who wins in November, the lame duck session will be interesting. Some Dems want to keep all the tax hikes and blame the GOP for it.
Mandatory tax hikes combined with mandatory budget cuts? Sounds like Euro-style austerity to me.
Thomas Sowell: There are no solutions, just trade-offs.
Lame duck votes could be dangerous too, nothing to lose. Go out with a bang!
I'm really surprised the stock market is holding up so well, most economic news is pretty weak, and this fiscal cliff and 2013 tax rates could tank stocks.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
I think the market is betting that both parties will kick the can down the road in a last minute December vote. Prediction: only the 1% will see a tax increase and repeal of any mandatory cuts to the budget. Keep on spending, we will just print more money. QE Squared!
Thomas Sowell: There are no solutions, just trade-offs.
My prediction is some fancy 10 year budgeting maneuvers like they have already been doing, and maybe a 3-6 month kick the can BS. Great recipe for more uncertainty and slow growth in the economy.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
LOL wrote: My prediction is some fancy 10 year budgeting maneuvers like they have already been doing, and maybe a 3-6 month kick the can BS. Great recipe for more uncertainty and slow growth in the economy.
Agreed... perpetual uncertanty from Obamacare to income tax increases, to dividend tax, capital gains tax, death taxblah blah blah ... no way we ever see 5% unemployment again.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
LOL wrote: Its going to be busy in congress in Nov-Dec. The party politicians on both sides are putting their re-election ahead of the country. Pretty sad really.
The best case scenario seems to be a status quo kick the can and higher debt ceiling. Not much to be optimistic about huh?
What's sad is one party has made it their stated objective over the past 3 1/2 years to win the election at all costs.
When you plant ice you're going to harvest wind. - Robert Hunter
LOL wrote: Its going to be busy in congress in Nov-Dec. The party politicians on both sides are putting their re-election ahead of the country. Pretty sad really.
The best case scenario seems to be a status quo kick the can and higher debt ceiling. Not much to be optimistic about huh?
What's sad is one party has made it their stated objective over the past 3 1/2 years to win the election at all costs.
Tell me something SS, when the Dems lose an election, do you think they just sit back for 3 years and wait to take power back or do you think they start formulating a plan to get power back the next day? If you believe the opposing party is dead wrong in it's policies and ideology, would you not be letting your constituents down by sitting back and waiting for the next election? I seem to recall after Bush was elected both times, that the liberal talking heads and politicians immediately went after Bush at every opportunity.
I know you are referring to what Mitch McConnell said that the goal is to make sure Obama is a one term president. Can you honestly telll me that was not the goal of the Dems after Bush "stole the election from Gore"? Maybe nobody actually spoke those words on camera, but you know damn well that was the goal.
The left is angry because they are now being judged by the content of their character and not by the color of their skin.
Soulshiner wrote: What's sad is one party has made it their stated objective over the past 3 1/2 years to win the election at all costs.
Please provide a link for that exact quote from the party or retract the statement. Especially the "at all costs" part. I'm sure it would be easy to find that "stated objective" on the official party web site
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
