IDBillzFan Posted January 1, 2013 Share Posted January 1, 2013 You have to hand it to the Obamatakers. They're getting everything they wanted and then some. http://www.washingtontimes.com/blog/inside-politics/2013/jan/1/deficit-fiscal-cliff-bill-actually-spends-330-bill/ Taxes raised on $400K or more income. Another $330 Billion in new spending. Only $2B reduced spending in 2013. Adds ANOTHER $4T to the deficit over 10 years. Great job, takers. Great job. Link to comment Share on other sites More sharing options...
fjl2nd Posted January 1, 2013 Share Posted January 1, 2013 Well, one thing the BO supporters can count on - their payroll tax "break" is gone. Everyone's taxes are going to go up in 2013 - everyone's. Get ready to start paying some of "your fair share" and continue to support the liar who told you no one's taxes would go up by a single dime if he were reelected - not a single dime. More like bags of rolls of dimes it will be. Congratulations. You got the man and machine you voted for. Most rational Obama supporters understood that the payroll tax cut would be gone. Everybody should have known this really. I'm still delving into the details of the deal and I'm liking some things. For me, the main goal was to avoid harming the economic growth we have going and unemployment going back up. This deal will probably at least make that less likely in the short-term. You have to hand it to the Obamatakers. They're getting everything they wanted and then some. http://www.washingto...pends-330-bill/ Taxes raised on $400K or more income. Another $330 Billion in new spending. Only $2B reduced spending in 2013. Adds ANOTHER $4T to the deficit over 10 years. Great job, takers. Great job. Glad to see spending not take a big hit in 2013. However, I think unemployment benefit extension should have seen the chopping block. I like what the deal did for the most part with taxes. Now, we need to get to work on social programs reforms that make them operational for the long-term and grow ourselves out of these deficits. Link to comment Share on other sites More sharing options...
Alaska Darin Posted January 1, 2013 Share Posted January 1, 2013 grow ourselves out of these deficits. Link to comment Share on other sites More sharing options...
3rdnlng Posted January 1, 2013 Share Posted January 1, 2013 “Fiscal Cliff” put in a much better perspective. Lesson # 1: * U.S. Tax revenue: $2,170,000,000,000 * Fed budget: $3,820,000,000,000 * New debt: $ 1,650,000,000,000 * National debt: $14,271,000,000,000 * Recent budget cuts: $ 38,500,000,000 Let's now remove 8 zeros and pretend it's a household budget: * Annual family income: $21,700 * Money the family spent: $38,200 * New debt on the credit card: $16,500 * Outstanding balance on the credit card: $142,710 * Total budget cuts so far: $38.50 Got It ????? OK now, Lesson # 2: Here's another way to look at the Debt Ceiling: Let's say, You come home from work and find there has been a sewer backup in your neighborhood.... and your home has sewage all the way up to your ceilings. What do you think you should do ...... Raise the ceilings, or remove the ****? Link to comment Share on other sites More sharing options...
birdog1960 Posted January 1, 2013 Share Posted January 1, 2013 any prediction on where the dow ends tomorrow? the way it's going in the house, i'm guessing down 300-400 points. asian markets open in a few hours. that will give us a glimpse. then again, a sudden decline there might cause a spring to action. Link to comment Share on other sites More sharing options...
dayman Posted January 1, 2013 Share Posted January 1, 2013 “Fiscal Cliff” put in a much better perspective. Lesson # 1: * U.S. Tax revenue: $2,170,000,000,000 * Fed budget: $3,820,000,000,000 * New debt: $ 1,650,000,000,000 * National debt: $14,271,000,000,000 * Recent budget cuts: $ 38,500,000,000 Let's now remove 8 zeros and pretend it's a household budget: * Annual family income: $21,700 * Money the family spent: $38,200 * New debt on the credit card: $16,500 * Outstanding balance on the credit card: $142,710 * Total budget cuts so far: $38.50 Got It ????? OK now, Lesson # 2: Here's another way to look at the Debt Ceiling: Let's say, You come home from work and find there has been a sewer backup in your neighborhood.... and your home has sewage all the way up to your ceilings. What do you think you should do ...... Raise the ceilings, or remove the ****? Now now, we've been over this, the government is not a household and the debt ceiling is not the roof. Link to comment Share on other sites More sharing options...
B-Man Posted January 1, 2013 Share Posted January 1, 2013 What passes for "balanced" approach........... $1 in Spending Cuts for Every $41 in Tax Increases. . Link to comment Share on other sites More sharing options...
dayman Posted January 1, 2013 Share Posted January 1, 2013 What passes for "balanced" approach........... $1 in Spending Cuts for Every $41 in Tax Increases. . you should just post everything as 3rd Link to comment Share on other sites More sharing options...
3rdnlng Posted January 1, 2013 Share Posted January 1, 2013 you should just post everything as 3rd SameOldSchit from SameOldBills. It's still math you dumbass. What's happening in Europe? Link to comment Share on other sites More sharing options...
KD in CA Posted January 1, 2013 Share Posted January 1, 2013 So let me get this right....after all this 'fiscal cliff' hysteria, they basically just decided to not cut spending or raise taxes (except on the 'rich'). I wonder how much money Washington insiders made in the stock market in the last month. Link to comment Share on other sites More sharing options...
birdog1960 Posted January 1, 2013 Share Posted January 1, 2013 So let me get this right....after all this 'fiscal cliff' hysteria, they basically just decided to not cut spending or raise taxes (except on the 'rich'). I wonder how much money Washington insiders made in the stock market in the last month. not much yet. market was up about 1% in the last 3 months overall. the next few days could be big. and even if passed, 2 months from now...still say the games rigged. Link to comment Share on other sites More sharing options...
TPS Posted January 2, 2013 Share Posted January 2, 2013 So let me get this right....after all this 'fiscal cliff' hysteria, they basically just decided to not cut spending or raise taxes (except on the 'rich'). I wonder how much money Washington insiders made in the stock market in the last month. You obviously misunderstand the fiscal cliff. The point was to avoid the short term austerity measures because it would cause the fragile recovery to stumble back into recession. Politicians are using the FC to barter over who will pay for the long term fiscal fix. Link to comment Share on other sites More sharing options...
3rdnlng Posted January 2, 2013 Share Posted January 2, 2013 You obviously misunderstand the fiscal cliff. The point was to avoid the short term austerity measures because it would cause the fragile recovery to stumble back into recession. Politicians are using the FC to barter over who will pay for the long term fiscal fix. Yes, and Obama turned down what he had previously agreed to in the summer of 2011 and is claiming victory because the Senate voted for this kick the can down the road again bill. It's not going to pass the House, but Obama got what he wants, someone to blame his incompetency on. Link to comment Share on other sites More sharing options...
Cinga Posted January 2, 2013 Share Posted January 2, 2013 not much yet. market was up about 1% in the last 3 months overall. the next few days could be big. and even if passed, 2 months from now...still say the games rigged. This is a very telling part of this whole mess. We just increased the debt limit a few months ago, that's where the debt reduction we face called the fiscal cliff came from. By raising the debt limit, we were all told everyone would sing kumbaya and come up with real debt reduction, or this cliff would kick in automatically..... Now we have already reached the debt limit again, and they are only putting it off with accounting tricks, and these talks to supposedly avoid the cliff, which is self imposed by Washington, aren't including debt limit talks.... kick the can once again... Link to comment Share on other sites More sharing options...
IDBillzFan Posted January 2, 2013 Share Posted January 2, 2013 kick the can once again... When you fail to elect a leader, you fail to get leadership. This is what America wants.This is what America voted for. I understand the left is counting on the right to be blamed, butw hen the schitt hits the fan this year with new taxes, the last thing anyone is going to have time to do is care whether it was caused by the left or the right. This is going to be a freakin' blast. Link to comment Share on other sites More sharing options...
keepthefaith Posted January 2, 2013 Share Posted January 2, 2013 You obviously misunderstand the fiscal cliff. The point was to avoid the short term austerity measures because it would cause the fragile recovery to stumble back into recession. Politicians are using the FC to barter over who will pay for the long term fiscal fix. Baloney. The White House and Senate have showed their true colors in the past few weeks. Neither has any intention of fixing our fiscal problems. They are committed to more debt and more spending. Any talk now of addressing defecits and debt by Obama and Reid is utter B.S. Obama will continue to push for economic justice for his supporters and will leave the increasing fiscal mess for his successor. There is not a shred of evidence otherwise. Link to comment Share on other sites More sharing options...
GG Posted January 2, 2013 Share Posted January 2, 2013 You are giving Ben too much credit. He controls the short rate. Thank the recession and a huge pool of money looking for higher yields for historically low long rates. It's a no brainer for CFOs to take advantage of it. I have a little exercise you can give your students their first week back. Plot the correlations of QE rounds to new corporate bond issuances, and see if there's a distinct pattern. Link to comment Share on other sites More sharing options...
dayman Posted January 2, 2013 Share Posted January 2, 2013 Yes, and Obama turned down what he had previously agreed to in the summer of 2011 and is claiming victory because the Senate voted for this kick the can down the road again bill. It's not going to pass the House, but Obama got what he wants, someone to blame his incompetency on. It'll be through the house in a few hours and signed by tomorrow morning Link to comment Share on other sites More sharing options...
Cinga Posted January 2, 2013 Share Posted January 2, 2013 Baloney. The White House and Senate have showed their true colors in the past few weeks. Neither has any intention of fixing our fiscal problems. They are committed to more debt and more spending. Any talk now of addressing defecits and debt by Obama and Reid is utter B.S. Obama will continue to push for economic justice for his supporters and will leave the increasing fiscal mess for his successor. There is not a shred of evidence otherwise. they've actually been doing that for the last 4 years, but who is watching? THAT is the problem. Most Americans catch snit here or there from the POTUS, and since he's the cats ass, that's as far as it goes. We have become a nation ignorant of real politics in this country, or we'd all be puking... Link to comment Share on other sites More sharing options...
3rdnlng Posted January 2, 2013 Share Posted January 2, 2013 It'll be through the house in a few hours and signed by tomorrow morning If it passes without amendments there will be some Republican reps who will rue the day they voted for it. Link to comment Share on other sites More sharing options...
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