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The Fiscal Cliff Approacheth
In an effort to make this thread sticky-worthy, I am going to update this OP to keep casual glancers informed.
This post is the official one-stop shopping of the key points/developments of the fiscal cliff negotiations. Far as I understand, the fiscal cliff: 1. Gets rid of the Bush tax cuts for the wealthy. 2. Gets rid of the Bush tax cuts for everybody else. 3. Slashes defense spending by something like $500 billion. 4. Slashes domestic programs like the NIH, Head Start, and medicine/drug care for the poor by $500 billion. The new idea is for Democrats to allow the cliff to hit, then immediately introduce a bill that would bring 2, 4, and some of 3 back. But not 1. Here is a chart detailing exactly what the fiscal cliff is going to do, financially:
Spoiler!
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Obama's opening offer, essentially: Quote:
Last edited by Direckshun; 11-14-2012 at 10:54 AM.. |
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#151 |
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I believe so.
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#152 |
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Of course it is. Meanwhile, he can over-spend by that in one year easily.
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#153 |
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#154 |
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I don't think he's planning on letting us survive that long.
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#155 | |
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Quote:
In addition to that, it's the largest deficit reduction plan offered so far. The GOP will likely counter with one much, much smaller. |
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#156 |
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Is it hidden in there somewhere, or is Obama not addressing entitlement spending?
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#157 |
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I want to see what cuts he's willing to offer. Most people seemed to be in agreement that a balanced approach makes the most sense.
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#158 | ||
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Quote:
Quote:
The White House is reportedly looking for a 1:1 ratio in cuts-to-revenue. So this, I suppose, is exactly half of the deal. |
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#159 |
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#160 | |
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Reportedly the President will accept top marginal rates being hiked up just shy of the Clinton rates so long as a heap of deduction limits are included.
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#161 |
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Peter Suderman
@petersuderman Obama is not making a return to Clinton-era tax rates for top earners an absolute condition of a deal. |
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#162 | |
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We ain't seen anything yet\ can't wait for the recession to hit and drive up the unemployment numbers and see retirement and 401k programs bottom out. yup...let er rip
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#163 |
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a few million government workers being terminated will help the cause
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No Jesus No Peace Know Jesus Know Peace Ephesians 2:8-10 English Standard Version (ESV) 8 For by grace you have been saved through faith. And this is not your own doing; it is the gift of God, 9 not a result of works, so that no one may boast. 10 For we are his workmanship, created in Christ Jesus for good works, which God prepared beforehand, that we should walk in them. |
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#164 | |
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How many "few million" are you looking to reduce it by? |
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#165 | |
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Quote:
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