looks like us will go over fiscal cliff

by truthbetold Wed Dec 26, 2012 8:45 am

After a drama with more twists and turns than a soap opera, the irresponsible politicos are letting the economy fall over the cliff.
Pay roll taxes and cut off in unemployment benefits hit middle and lower classes. That, according to economists, will hurt economy in 2013.
rest of middle class taxes and capital gains and dividend taxes impact will be felt later.
who is to be blamed?conventional wisdom says republicans. Boehner ' s antics and flop show with plan b made him the marked man.
a contrary view: the first set of taxes hurt middle class, and a possible recession may not help democrats. Once bush taxes lapse, technically republicans do not have to vote for any tax increases.

Obama was firm since reelection and pushed the discussion to his liking. Public backed him. However there were no significant entitlement cost reductions yet.
Question: is obama doing the right thing? Is he over playing his victory?

by indophile Wed Dec 26, 2012 11:08 am

Even Republicans cannot negotiate with their Tea Party folks. There is no point in Obama negotiating with himself. I have a friend who watches nothing but Fox and always finds fault with Obama, and he does it with a straight face. Only a Tea Party President would be acceptable to him (not even a regular Republican guy, like for instance, a Ronald Reagan type guy)

by MaxEntropy_Man Wed Dec 26, 2012 11:12 am

indophile wrote:Even Republicans cannot negotiate with their Tea Party folks. There is no point in Obama negotiating with himself. I have a friend who watches nothing but Fox and always finds fault with Obama, and he does it with a straight face. Only a Tea Party President would be acceptable to him (not even a regular Republican guy, like for instance, a Ronald Reagan type guy)

ronald reagan would not get any votes from the current tea party crowd. he raised taxes many times.

by truthbetold Thu Dec 27, 2012 6:43 pm

Republicans are so irresponsible. While dems can be criticized for any number of reasons, this time house repub leadership really messed up. They have no strategy, no explanation. They just went awol. Grover norqiist is more important to these stupid politicos than national economy.
What an amazing display of political stupidity.

by Maria S Thu Dec 27, 2012 7:09 pm

truthbetold wrote:Republicans are so irresponsible. While dems can be criticized for any number of reasons, this time house repub leadership really messed up. They have no strategy, no explanation. They just went awol. Grover norqiist is more important to these stupid politicos than national economy.
What an amazing display of political stupidity.

Good you said it and not me, TBT:) It's a cliff-hanger alright! And quite embarassing.

Hope they get their act together by monday..salvage something and get it done. Otherwise, the consequences will affect everyone.

by truthbetold Fri Dec 28, 2012 9:12 pm

Friday talks between top leaders of dems and republicans ended with no result. But there is still a small chance of final minute compromise.

Obama led the dems negotiating position very well. He is firm but sensible to keep the negotiation moving. Repub are at a loss as public is opposed to their save rich from taxes strategy. When a deal was within reach , they bolted and gave the appearance of hiding behind Grover norquist.

I hope some day they pay for their role in this crises.

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