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Will a “fiscal cliff” solution keep the economy from backsliding in 2013?

L.A. Times 2012/12/17 17:12:33
Related Topics: Obama, Boehner, Fiscal Cliff
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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."

Read More: http://www.latimes.com/news/politics/la-pn-boehner...

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Top Opinion

  • GAC 2012/12/17 20:51:12 (edited)
    No
    GAC
    +10
    Spending 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.

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  • Ramón 2012/12/26 01:34:42
    No
    Ramón
    It's all just politics at the expense of the public AGAIN. We should A. enact term limits B. Reduce their salaries, perks, and staff. C. Limit the Federal government to treaties with other nations, national defense, and settling arguments between the states, while D. Not allowing function creep into the Fed's role!
  • ruthannhausman 2012/12/24 19:47:39
    No
    ruthannhausman
    Doubtful at best. Obama has got an agenda and is feeling his oats like a spoiled child after the '12 election. All the informatory instruction on fiscal issues, spending backlashes, etc., and he isn't budging from demanding more and more money to spend, spend, spend. And his robotic supporters back him up. And he'll manage to get some tax increases -- in addition to the ones already creeping in from Obamacare -- and scare more businesses away in the meantime, accomplishing nothing good for our country and, by golly, he'll get away with it. Amazing. Simply amazing.

    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.
  • Dave 007 2012/12/23 12:41:59
    Yes
    Dave 007
    obama is the problem.
  • freedomsox 2012/12/23 01:00:44
    No
    freedomsox
    Our fate is already sealed. Both sides are trying to set it up so it looks like it's the other guy's fault when we hit the ground.
  • MS PRUD 2012/12/22 22:34:47
    No
    MS PRUD
    The government has to STOP SPENDING.
  • T 2012/12/22 00:37:27
    No
    T
    The economy is going to pick up despite the valiant efforts by our elected officials to stop it.
  • Avi Rosen 2012/12/20 19:56:01
    Yes
    Avi Rosen
    Flinched, must be a way to undo a vote...
  • Elaine Magliacane 2012/12/20 16:35:05
    No
    Elaine Magliacane
    Only thing that MIGHT have helped was a new President... we won't get one of those for 4 more years .... enjoy your Obama phone while it lasts.
  • Magnus ☮ RP ☮ 2012 ☮ 2012/12/20 12:09:35
    No
    Magnus ☮ RP ☮ 2012 ☮
    +1
    Anyone who thinks there's actually been or that there yet will be a REAL recovery... is delusional and needs some serious, professional help. It's not happened and it isn't going to. We have been had. Game over. We're finished. That's all, folks. Done.

    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...
  • Doc Holiday 2012/12/20 04:28:23
    No
    Doc Holiday
    +2
    No matter what they do in Washington we are all pretty much screwed. Bad times ahead you all better have your own PLAN B.
  • joe mauro 2012/12/19 22:55:44
    No
    joe mauro
    +2
    our government is out of touch,it has no solutions
  • Constitution Believer 2012/12/19 21:49:36
  • mikeyavelli 2012/12/19 16:20:21
    No
    mikeyavelli
    +1
    compromise means no one is happy and the result is less or more than needed.
  • Icanbea... mikeyav... 2012/12/20 02:19:21 (edited)
    Icanbean  Arschloch
    A compromise means both sides loose. It reminds me of marriage, ... she wants this, he wants that,, .and you end up with something that you both do not want. No wonder so many people get divorced.
  • mikeyav... Icanbea... 2012/12/20 17:54:19
    mikeyavelli
    +1
    yep. men do go for the younger new wife too, and she costs plenty and you shut up more to get more.
  • elvira 2012/12/19 15:06:12
    No
    elvira
    Putting things off is never good. For instance, you have a cavity in a tooth, you ignore it and it becomes abscessed. The longer you delay the inevitable, the worst it is going to get.
  • zoilandon 2012/12/19 14:04:51
    No
    zoilandon
    +1
    The fiscal cliff is a distraction. They don't want you to see the real issue:
    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.
  • sbtbill zoilandon 2012/12/19 19:41:48
    sbtbill
    +1
    Money is mostly created electronicly by banks today. The fed is just facilitating that. There isn't enough gold and silver in the world to back all the money in the world. Hasn't been for about a hundred years.

    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.
  • Ramón sbtbill 2012/12/26 01:50:16
    Ramón
    They loan out 90, and then because you deposited 100, loan out another 90 on that 100 and repeat that again and again. It is called, if I remember, fractional reserve banking. The law should be you can only loan out what you have in reserves, and not double or triple or XXXXXX dip.
  • cfh 2012/12/19 10:15:55
    Yes
    cfh
    At least it gives us a b it more time to figure out what CAN ( not should ) be done.
    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.
  • cfh cfh 2012/12/19 10:19:35
    cfh
    One other thought, I doubt any of us here are old enough to personally remember the
    _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.
  • Elaine ... cfh 2012/12/20 16:38:22 (edited)
    Elaine Magliacane
    It helped that FDR DIED too... and his leftist policies were rejected for a time while... they are back these days BIG TIME!
  • Gwen 2012/12/19 04:53:30
    Yes
    Gwen
    Once again I, the eternal optimist, votes on sodahead.
  • Pay me 4profile 2012/12/19 03:00:22
    Yes
    Pay me 4profile
    As it is said in the our father "die kindom come die will be done on earth as it is in heaven" it time for a finacial tax heaven to excersise our right of life liberty and the prusuit of happieness
  • ☆stillthe12c☆ 2012/12/19 03:00:03
    No
    ☆stillthe12c☆
    The only thing that will help is for the government get serious on creating jobs spending cuts and deregulation and to hall in the EPA. Congress need to take back authority over them. Or the People need to once again assert themselves over the government and tell them the way thing are going to be.
  • ☆stillt... ☆stillt... 2012/12/19 03:01:49
    ☆stillthe12c☆
    +1
    One thing that would have really helped if america had voted the inept leader that we have now.
  • Edie 2012/12/19 01:49:50
    No
    Edie
    If the government does not quit spending more than they take in we are headed for real disaster.
  • Stix 2012/12/19 01:10:18
    No
    Stix
    +2
    ObamaCare and the massive new regulations from the EPA etc. will tank our economy in 2013...we ain't seen the bottom yet.
  • Robert Strobel 2012/12/18 22:37:46
    Yes
    Robert Strobel
    Hopefully
  • Tre 2012/12/18 22:35:49
    Yes
    Tre
    It's a start.
  • Rundy 2012/12/18 22:04:33
    Yes
    Rundy
    Boehner will fold and collapse in the near future. The Prez is holding the cards.
  • *K'eim*h3reg' *Peh2u *Meg' 2012/12/18 21:45:05
    No
    *K'eim*h3reg' *Peh2u *Meg'
    +1
    It's all smoke and mirrors. If not 2013, 2014. Or 2015. Or 2020. You can only put off the inevitable for so long. The real sucky part is that putting things off tends to make them worse.
  • nicesteve 2012/12/18 21:07:58
    No
    nicesteve
    +1
    The only possible solutions are to stop spending the taxpayer's money like it
    was going out of style, and the creation of living wage jobs with benefits on
    OUR shores.
  • Gallagater 2012/12/18 20:37:01
    No
    Gallagater
    +1
    Taxing the rich will fund the gov for a few days- IF the taxes are not spent before they are collected. As many are saying.... It's the spending that is killing the economy.
    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.
  • Hamilton 2012/12/18 20:33:02
    No
    Hamilton
    There *IS* no real solution at this point, and won't be for quite a while.
  • Stix Hamilton 2012/12/19 01:12:57
    Stix
    +1
    Not with Obama in office...
  • Tasine 2012/12/18 19:57:40
    No
    Tasine
    +1
    Oh, the can can be kicked a little farther, but eventually sanity MUST set in. Raising taxes brings the cliff's edge closer and closer. Exactly what has government done well? NOTHING.
  • sbtbill Tasine 2012/12/18 20:33:42
    sbtbill
    +2
    The space program, the internet, the post office (200+ years of mass communication), FDIC come to mind of the top of my head.
  • Tasine sbtbill 2012/12/18 20:53:36
    Tasine
    As I said, NOTHING.
  • sbtbill Tasine 2012/12/18 21:12:36
    sbtbill
    +1
    That seems like a lot to me.
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