Will a “fiscal cliff” solution keep the economy from backsliding in 2013?
L.A. Times
2012/12/17 17:12:33
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"House Speaker John A. Boehner returned to the White House on Monday morning, meeting with President Obama as talks continue over the year-end budget crisis.
Boehner made a substantial shift over the weekend by offering to raise tax rates on those making more than $1 million a year, a significant change from Republican orthodoxy against higher tax rates. Aides described it as an optimistic overture, even though the White House did not accept the proposal."
Boehner made a substantial shift over the weekend by offering to raise tax rates on those making more than $1 million a year, a significant change from Republican orthodoxy against higher tax rates. Aides described it as an optimistic overture, even though the White House did not accept the proposal."
Read More: http://www.latimes.com/news/politics/la-pn-boehner...
Top Opinion
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No
+10Spending is the problem, not a lack of revenue. (How many times has that been said?) Unfortunately, all of the lazy parasites among us don't want any of their entitlements cut. They keep siphoning off other people's hard-earned money while I'm stuck with a part-time job and so far have been unable to find any better position due to a sluggish so-called "recovery." They're oblivious to the fact the money just isn't there. If you ask me, we should just hit the debt ceiling and fall off the cliff. That will finally get everyone's attention.
If Hollywood were to make a movie, use big-name, big-talent actors and actresses and write a truthful script about what's going on, maybe the idiot class in America will finally see what's happening. Meanwhile, I hope you all have enough money for food and shelter -- forget luxuries -- because you're going to need it.
All that they are doing is political theater to placate the delusional people so they don't get pissed off and storm the bastion. And it isn't going to continue working for long...
WALL STREET.
A debt bigger than GDP. Look what that did to Greece. But much worse: $85 trillion in unfunded liabilities. You could take every penny from the rich and this would not help.
Just as bad, and something no one focuses on: issuing unbacked currency by the Fed, QE 1,2 and 3. If you took a poll to see who even knows that QE means, it would be less than 10% of the population. You can't have a democracy with that much ignorance. Even this blog doesn't give you this info.
Keep in mind that when you deposit $100 the bank keeps about $10 in reserve and loans out the other $90. That money is then spent and redeposited with $10 again then kept and $90 lent out. That cycle just keeps turning. In many cases the reciver and depositor never touch cash it is just an electronic notation.
Since we can't get a good stimulus program going we need quantitative easing.
and all in all, the economy does seem to be getting better, best NOT intentionally
give it a headache. MEANWHILE work on acceptable long term solutions.
_so called_ great depression. Much of what is being said does sound like stuff, I have heard was said then, Admittedly it took a world war to get us really out of that one,and while
I doubt any of us would like THAT as a solution, perhaps something as earthshaking is needed to boost the world ( not just the US ) out of this one.
was going out of style, and the creation of living wage jobs with benefits on
OUR shores.
If you get a big raise at work and spend it on things you want, it will not help you become financially healthy. You can't spend more than you earn and expect good results.