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What exactly is this fiscal cliff?

Discussion in 'The Okie Corral' started by frank4570, Dec 22, 2012.

  1. frank4570

    frank4570

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    And why is there a time limit on it?

    The only thing I understand is that if there is not a deal made by the end of the year there will be across the board tax increases and spending cuts. That's it.

    Would it actually make it so that we are spending less than we are making?
     
  2. Atlas

    Atlas transmogrifier

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    Just one bump in the road to fiscal oblivion.
     

  3. Kingarthurhk

    Kingarthurhk Isaiah 53:4-9

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    It is a situation where Obummer wants nothing to happen and taxes to raise and blame it on Boner.

    Boner wants to create a situation where Obummer looks like the bad guy and get nothing accomplished on purpose.

    Either way, your taxes go up, because two groups of elected people think that doing the job they were appointed and hired to do is beneath them.
     
  4. frank4570

    frank4570

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    Dude, you are not helping me.:steamed:


    :wavey:
     
  5. RonS

    RonS Millennium Member

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    http://www.jerrypournelle.com/chaosmanor/

    Good explanation here. Jerry's site is a day book, you may have to scroll down as new stuff gets posted. Bear in mind that he used to teach economics, he is not just some random blogger. I don't know how many degrees he has, physics I'm pretty sure of, possibly more. Former NASA program director, cold warrior, author, university professor. Worth reading nearly anything he writes.

    The key thing is that Obama and the DNC want do destroy the economy. They can wring their hands all they want for the cameras, but prosperous people vote conservative and starving people vote for "Change".
     
  6. frank4570

    frank4570

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    That helps. And based on what I read, Atlas is right. It won't make much difference.


     
    Last edited: Dec 22, 2012