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-   -   Economics The fiscal cliff could undo the recovery. (http://www.chiefsplanet.com/BB/showthread.php?t=267921)

Direckshun 12-22-2012 12:02 AM

The fiscal cliff could undo the recovery.
 
Should we not only take the tumble off the fiscal cliff on January 1st (which, after the GOP's "Plan B" implosion, I now regard as likely) and not get the drastic cuts and tax increases resolved before February (when the cliff is expected to start making its real presence felt), or if we have another debt ceiling standoff in March, we are potentially averting a real recovery.

I don't think we would be plunging into a recession, as the CBO projects it could, because Obama can manipulate when the tax increases actually take effect and he can slowly implement the cuts, radical as all these things are.

But what we are starting to see in the economy is the headwinds of a sturdy recovery that would set the table for a solid recovery in 2014:
  • Personal consumption rose 0.4 percent this past month.
  • Income rose 0.6 percent this month, including a 0.8 percent increase in disposable income -- a hugely important number, as that is more demand being injected into the economy.
  • The third quarter GDP was actually upgraded from 2.7 to 3.1 percent.
  • States have stopped acting as an incredible drag on the economy, though it may still be a couple years before they start contributing to our national GDP.
  • The tepid recovery we've had has occurred in spite of the housing market languishing. Well that dynamic is no more, the housing market is recovering much faster, and is now halfway back to normal.
  • Fourth quarter GDP is up.
  • As for employment, the numbers are better. 43 states and DC report lower unemployment rates, and unemployment now sits at 7.7% nationally.
The absolute only thing that can derail a recovery is ourselves.

We can shoot ourselves in the foot, that's it. A recovery will occur if we do not do that. A steady one in 2013, and a really good one in 2014, with housing gathering steam.

Prison Bitch 12-22-2012 12:15 AM

Gearing up for yet another "Recovery Summer", eh?

Direckshun 12-22-2012 12:21 AM

Quote:

Originally Posted by Prison Bitch (Post 9231232)
Gearing up for yet another "Recovery Summer", eh?

What?

Comrade Crapski 12-22-2012 03:07 AM

LMAO

Mr. Flopnuts 12-22-2012 04:34 AM

There is no doubt that the public would blame the GOP, and it would completely destroy that party for the foreseeable future. They'd disagree, but then again, they all were shocked it wasn't Romney in a landslide, so they don't exactly have the pulse of the people these days. We'll do what we always do, wait and see.

RNR 12-22-2012 04:40 AM

What recovery?

HonestChieffan 12-22-2012 06:19 AM

Its Barrys ball. Its his shot.

RNR 12-22-2012 06:34 AM

Quote:

Originally Posted by HonestChieffan (Post 9231375)
Its Barrys ball. Its his shot.

He planned for this, he is tickled shitless. Everybody pays more taxes and it is of course somebody else's fault. His cult type followers will buy his finger pointing hook line and sinker~

HonestChieffan 12-22-2012 06:46 AM

Quote:

Originally Posted by RedNeckRaider (Post 9231379)
He planned for this, he is tickled shitless. Everybody pays more taxes and it is of course somebody else's fault. His cult type followers will buy his finger pointing hook line and sinker~

And he gets to spend like a madman. Pure win for him.

Bwana 12-22-2012 07:43 AM

Mercy LMAO

BucEyedPea 12-22-2012 08:39 AM

There's no recovery. It was always a bullshit claim with bogus numbers.

The bond market is going to burst anyway.

BucEyedPea 12-22-2012 08:40 AM

Quote:

Originally Posted by Mr. Flopnuts (Post 9231342)
There is no doubt that the public would blame the GOP, and it would completely destroy that party for the foreseeable future. They'd disagree, but then again, they all were shocked it wasn't Romney in a landslide, so they don't exactly have the pulse of the people these days. We'll do what we always do, wait and see.

They'd only blame the GOP because the media told them that. The fact that so many have bought into this "fiscal cliff" is another example. If the congresses passes a budget, two versions and goes home...then Obama could be blamed too.

Radar Chief 12-22-2012 08:53 AM

Quote:

Originally Posted by Mr. Flopnuts (Post 9231342)
There is no doubt that the public would blame the GOP, and it would completely destroy that party for the foreseeable future. They'd disagree, but then again, they all were shocked it wasn't Romney in a landslide, so they don't exactly have the pulse of the people these days. We'll do what we always do, wait and see.

Right, because the MSM won't let their guy take the hit and there are still enough gullible people in this country to buy what they're selling.

Ebolapox 12-22-2012 09:22 AM

Quote:

Originally Posted by Mr. Flopnuts (Post 9231342)
There is no doubt that the public would blame the GOP, and it would completely destroy that party for the foreseeable future. They'd disagree, but then again, they all were shocked it wasn't Romney in a landslide, so they don't exactly have the pulse of the people these days. We'll do what we always do, wait and see.

the public is ****ing retarded then. this is on BOTH parties. why one party gets to skate while the other takes the whole blame is ****ing stupid.

FD 12-22-2012 10:29 AM

I don't understand why the stimulus skeptics aren't going around posting that the fiscal cliff will be completely harmless. After all, if tax cuts and spending projects don't boost the economy, why would tax hikes and spending cuts hurt it?


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