After covering the debt ceiling negotiations last summer, I'm convinced the only way that anything is going to get done is by going over the cliff. Time is running out and we can no longer kick the can down the road. Now don't get me wrong, the across the board cuts and revenue increases are not the best possible way to handle this situation, but let's face it what other alternative do we have? The likelihood that a comprehensive deal including revenue, military spending, and entitlements that will have any significant impact being agreed upon are slim to none. Republicans will insist on closing loopholes that don't bring in enough revenue, Democrats will ignore the unsustainable costs of our entitlements, and both parties will ensure that money is not stripped away from the military budget. I realize that these cuts will increase the tax burden on already strapped low and middle income families, will result in massive defense industry layoffs, and could quite possibly send us into another recession, but what choice do we have? Does anyone think that another two years of slow economic growth to finally get us on the right track is worth it, or do we gamble on our politicians being able to strike a deal that more than likely will continue this path of unsustainability?
great idea..just go off the cliff and lose the little you have left in your 401k plan..you are so smart
That is meaningless. Personally, I don't think the "cliff" is much more than a contrived SLOPE. To get those tax rates on the wealthy back to where they need to be... going OVER is likely the best bet.
Its the only way apparently to get Congress to start fixing the problems. Democrats need to start cutting entitlement spending and republicans need to slash the military down in size. It doesn't look like they ever will unless they are forced to. When Cortez landed in the New World he burned his ships so that his men had to go forward no matter what troubles were ahead of them. I believe we should follow that policy also.
That is meaningless. Personally, I don't think the "cliff" is much more than a contrived SLOPE. To get those tax rates on the wealthy back to where they need to be... going OVER is likely the best bet.
I'm not saying this is the best option, but I'm not convinced that Washington will be able to come together for any comprehensive reform. Personally I'd like to see rates go up especially on higher earners, cut the defense budget in half, and reform entitlements that still protect the benefits for those that need them but I don't think such an agreement will be made. If we continue with the status quo, then it won't matter what you have left in your 401(k) because the debt and inflation will render it meaningless.
Of course we should jump over the cliff. Getting the government to spend even a little less is worth nearly anything we can do.
People of America we cannot go over the fiscal cliff. Do you know what happens when you fall off a cliff? You die and we the people cannot stand by and let America die. The options are few we're down and out but we've still got a chance. All we have to do is cut social security, medicaid and medicare even though they have nothing to do with the deficit. Sell all public land too for it's resources at rock bottom prices as well as all public utilities. We'll have to repeal all environmental regulation on large companies so they can prosper again. And of course America will always need defense so we'll increase military, prison, police and drug war expenditures. Only though austerity can America be saved just like Croatia but please ignore the rest of socialist Europe that failed with Austerity because they suck and America doesn't so it will work out super well for the U.S.A. U.S.A., U.S.A., U.S.A.! But seriously the fiscal cliff is bull(*)(*)(*)(*) and just preparation to force austerity measures on America. Just cut your defense spending, reduce regulations on small businesses and idk maybe raise minimum wage to a standard level.
Unemployment would likely go back up to 9-10% and it would almost certainly cause another recession. But it would be a start to gettting the deficit on track. That being said I think jobs are far more important than the deficit. So no, I don't think we should just go over the cliff. At the same time though we shouldn't just blindly renew everything either. I don't think there is any point in renewing the wealthy tax cuts. They've already shown little economic benefit.
Most entitlements are a net positive on the economy. It benefits the economy, particularly in recessions, to give money to the poorest people because they are most likely to put it back into the economy nearly instantly. The faster money gets spent the stronger the economy is.
Actually that would help too, making them more efficient anyways, but that would only help as much as closing some loopholes or raising taxes slightly those however would take more time to deal with because of controversy, or the intricacy of the problems. You're main issues aren't those your politicians keep bringing up. Changing Defense spending, regulations on small businesses and minimum wage will effect far more positively then changing any of the others i mentioned but your government won't even do anything serious about any of those. The institution is aiming for austerity and they will probably get it.
I would definitely support making it more efficient. But there is hardly any entitlement program where I would support cutting benefits for. Most of them are extremely helpful to the economy.
I agree but to reach any kind of deal entitlements must be on the table. That being said, I don't feel there should be any massive overhaul or cuts to the programs if there aren't similar cuts to military spending or a lack or revenue generated.
We already went over the fiscal cliff when we elected reagan and bush the failure. (corrected for accuracy.)
I do not think most Americans will like the republican party much if they drive us over the cliff, so I think they wont, but I have been wrong before
waste needs to be on the table, not medicare and Social Security, ect... we cut the waste first, we cut the entitlement for the rich first as they are not a necessity and we can't afford them
