10 who led us to the fiscal cliff

They fed our greed and guilt and told us we could have all the spending and tax cuts, too. While practically all of us had a role in this mess, these 10 stand out.

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403Comments
Dec 5, 2012 9:30PM
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How can you leave out Barney Frank who killed every effort to control Freedie MAC and

Fannie Mae.

Dec 5, 2012 10:03PM
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What created this mess is the philosophy that took down Rome.  There is no greater danger to a nation than to allow the voters to vote themselves money.

 

Solving the problem is easy permit Federal spending only on those issues that provide for the defense of the US;   No money for schools, health, retirement, and anything else that does not contribute to the direct benefit of the country.  Education is the responsibility of local government, health is your responsibility, earn your money and stop holding your hand out for what isn't yours.

 

Why am I responsible for your education, your health, your welfare, etc.  I take care of  my family and my neighbors. I am tired of footing the bill for those who can do nothing but cry "its unfair."  Well life is unfair, deal with it.

Dec 5, 2012 9:12PM
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Rex Nutting is an effing joke. 

Laffer has nothing to do with it.  His Laffer Curver theory is sound.  The problem is, that no matter how much revenue is that it is never enough if you don't control spending.

Pete Peterson, because he brought guilt to the debt?  Are you effing serious?

Bill Clinton never had a surplus.  Look at the record.  Deficits every year.  He also pushed that everyone who wanted to own a house should be able to regardless of their ability to repay.  He is also the one who did away with Glass-Steagal.

Greenspan, I agree with, but I would tie Bernanke to it as well.

Bush/Cheney, don't disagree.

David Lereah, go back to what I said with Clinton.

Grover Norquist, go back to Laffer, we don't have a revenue problem, we have a spending problem.

Barack Obama, just takes a bad situation and makes it worse.  You want to get more revenue, get people back to work.  This idea that the only way to solve the deficit is to raise the taxes on the rich is the biggest effing joke I have ever heard.  Great, you can fund the government for 4 days, still leaves you with one big pile of stink!  Get people back to work and cut spending, and you might be able to get the budget balanced.







Dec 5, 2012 10:45PM
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Wow, did they softpedal Obama as a contributor or what?! Not biased, is the author? The author was also WAY too soft on Greenspan and the Fed. And as for there being the 10 biggest contributors - sorry, but it should be more like the 100 Biggest Contributors. They should all be brought into the light and let the American people see just what kind of scumbags we have running this country.
Dec 5, 2012 11:03PM
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THE ENTITLMENT GREAT SOCEITY STARTED WITH ROOSEVELT AND JOHNSON - A NOT MY FAULT SOCEITY SPRINKLED WITH WHATS IN FOR ME AND A DEMOCRACTIC PROGESSIVE AGENDA THAT ALL THINGS COME FROM GOVERNMENT.

 

WE ARE HEADED FOR THE CLIFF - WHEN A SOCEITY CAN VOTE FOR THEIR ENTITILEMENTS AND SUBSIDIZE - WHY THE HELL SHOULD WE WORK!!!!!!!!!

Dec 5, 2012 9:50PM
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Can we afford to keep giving our money to Obama. So he can give it to the Moslem brotherhood and big unions?  When will we wake up america?
Dec 5, 2012 11:19PM
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You have to be kidding regarding this article.Who really wrote this David Axlerod. How stupid does the media really think the American public is to digest this trash.

Dec 5, 2012 8:12PM
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ALL THE LEFT WING LIBERAL SOCIALIST DEMOCRATS AND STUPID DEMOCRAT VOTERS! CAN'T BELIEVE OBAMA MADE LIST!

Dec 5, 2012 9:21PM
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Who lead us to the fiscal cliff?  Obviously our elected officials that wouldn't/won't step up to the plate and tell it like it is so they can get reelected to their gravy train positions.

 

However, in the end it's the electorate, you know those that vote, that keep electing these folks on promises they know can't be kept or don't want to pay their fair share..  With nearly half of the electorate not paying Federal taxes it's not surprising.  I can't wait until we get over half this country not paying into the system.  If you think the riots in Greece are bad wait a few years.

Dec 5, 2012 8:59PM
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The problem is there was no budget surplus in the first place. Conventional wisdom would lead the public to believe that if the national debt was zero, and revenues to the treasury exceeded the cost of government, then this would be a surplus. This was not the situation. Politicians in their non conventional wisdom figured we had a surplus after ONLY THE INTEREST on the national debt and the federal budget obligations were paid. That's like the average person paying only the interest on a 300k loan and consider themselves rich when they might have a negative net worth of 1/4 million.
Dec 5, 2012 10:00PM
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Mr. Nutting has taken a pretty narrow view on the facts with most of the participants, in an attempt to write a compelling essay.  The Laffer Curve, rather the economics of it, work.  There is a point of diminshing returns, but there is also an optimization.  This is the crux of the argument, what is the proper role of government.  Clinton didn't balance a budget, his Secy of the Treasury Rubin re-financed long-term national debt to lower interest rates, and Republicans forced him to limit role of government. The "paper" economy of the dot.com boom created the revenue increase with his tax rates.  When the dot.coms busted in late 90s/early 2000, what happended with the Clinton rates? Kennedy and Reagan administrations proved that lower tax rates provide incentive for investment and capital growth, and hence GDP growth.  When we have people working government should have plenty of money, hence the colossal waste because it can't control itself. When folks aren't working, government doesn't have money regardless of tax rates, and printing it  to support government giveaways, isn't the answer.  Curent administration proves this point. Most of this is in a freshman Econ 101 class.
Dec 6, 2012 12:38AM
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Add Rex Nutting to the list that led to the "Cliff". The so called press  have replaced lawyers as the biggest scumbag liars. They hide the truth while the sheep are being led to slaughter. Nice fluff piece Rexy.
Dec 6, 2012 8:19AM
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What do you mean BACK into recession;  we've been hurting for all these years with escalating food costs (including smaller packaging for same prices), energy costs, and stagnant incomes.  The runaway BORROWING and SPENDING must stop.  With annual income of $41 thousand, our family has all agreed not to buy any gifts this year.  Instead we will save what we can in preparation for the inflation that is sure to come with the Federal Reserve Bank's QE3 and 4.  If ALL the wealth from "the rich" were confiscated it still would not solve the runaway spending that is under way.  President Obama needs to step up to the level that is required of his position and SOLVE the SPENDING PROBLEM now.  Enough of this "my way or the highway" class warfare and politics of envy.
Dec 6, 2012 12:34AM
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I can make this article alot simpler for everyone. Who's the number one culprit for the problems were in? OURSELVES! We voted for these people and continue to vote these numbskulls into power. Its time we start doing a nationwide vote on major issues and then see where the country goes instead of thinking those we vote for have our best interest in mind. Don't foget its WE THE PEOPLE. And its time we start taking a little responsibilty for our actions and fix the problems instead of letting others make it worse. 

 

Dec 6, 2012 12:09AM
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Our financial problems as a country are much deeper than just ten people.

 

First off, our system of taxation is a joke.  Our founding fathers did not want people to pay direct taxes (i.e. taxation on income and property).  They instead wanted indirect taxation (i.e. taxation based upon transactions such as a sales tax, excise taxes on goods that were not desirable such as whiskey, and tariffs.

 

As a country we have strayed woefully away from that basic system of taxation where now we actually get incentives to get into debt (home mortgage interest deduction) while we are penalized for savings (capital gains taxes on investment earnings). 

 

The system is all backwards and the incentives in place are exactly opposite of where they need to be to accomplish what needs to be accomplished.

 

Social security which takes around 7% out of most workers pay is an entitlement program from the Roosevelt days that is poorly designed and it has been abused through raids on its suplus to where  it is now broke along with the rest of the government.

 

All these facts coupled with the most anti-business president ever and it is no wonder we are in the mess that we currently find ourselves in.

Dec 5, 2012 8:56PM
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Inhale deeply as we are about to go where no one has gone before!

Dec 5, 2012 10:35PM
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Surprised Bernanke and his weak dollar policy didn't make the list.
Dec 5, 2012 10:04PM
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As Pogo said, "We have met the enemy and it is us!"  We can use the blame game til we're blue in the face, but every American is to blame.  We have lived the "Life of Riley" off China and the rest of the world by buying cheap goods...and too many of them.  We citizens are the "greedy" ones and we're to blame just as much as the people mentioned.  They gave us "feel good" policies and we ate them up.  They gave us "freebies" and we ate them up.  Now, we pay the price collectively!!  The Fiscal Cliff is all about us!

Dec 5, 2012 10:22PM
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I like the last name. Nutting off! Were you bored or what? You're not even close. As I can see you are just one more far left leaning liberal wanting to blame everyone else besides those that are truly to blame. I say as an American we need to stop paying all taxes. There fore all of this gluttonous government goes away along the greedy **** political BS. All this started when congress made an income tax into law in the Constitution. Then congress voted in the 70's to make a floating deficit so it just looks like the POTUS is actually doing something when they're not. As for you find another job 'cause you're not any good at this one.
Dec 6, 2012 9:03AM
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We have an arrogant president who wants a blank check to get us into more debt.  He bought votes from the moochers of this country and is mortgaging all our kid's future. 
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