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 6, 2012 5:51PM
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In the begining was the Constitution, and said document was amended to elect Senators by direct election, replacing the system that choose Senators in the State Legislators, on the argument it was FAIR.

 

Now both houses of government and both parties mislead all of us in order to maintain their status quo and get themselves reelected. The real deficit is not the $16 trillion the government recognizes, but that plus $25 trillion in unfunded Social Security obligations they conveniently choose not to show, and an additional $45 trillion in unfunded promises actuarily to pay for future medicare benefits. The real total Federal Debt is not $16 trillion but $86 trillion. The real annual deficit is not $1.6 trillion, but included with that amount the government admits, are the annual increases in unfunded Social Security Benefits and Medicare to a total annual deficit of over $8 trilliion PER YEAR.

 

The fiscal cliff argument are nothing short of a joke, as TAXING ALL AMERICANS AT 100% WILL NOT FIX THIS.

 

Every Senator and Congressman in office over the last 40 years would be in jail for life if they perpetrated this scale of fraud in the business sector.

Dec 6, 2012 5:50PM
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Why does our press keep forgetting one of the major causes of the mess we're in?  Mr Clinton had a little idea to help those that couldn't afford a home, great idea with the wrong way to do it.  He created a bill and pushed it through Congress just like Obama care.  The bill had no safe guards for those he wanted to help out so badly.  This housing bill now allowed those who couldn't afford a home to actually go out and buy a home at a very low rate(adjustable). 

When the stock market started to rebound a little bit, the adjustable rates started to climb.  Now these people saw their $700 payments start to climb into the $1000 range.  An amount they couldn't afford.  Therefore foreclosures started to become a problem for all those with these loans.  Then as the rates kept climbing, the foreclosures started to snowball.  The Republicans get all the credit for this mess in the so called news industry, but Mr Clinton should shoulder most of the blame.

To bad our news agencies don't want to tell you about this little problem.  It's not the first story that has been ignored or twisted to fit their idea of the big story.  Any one remember the SUV's Dateline couldn't get to flip over.  They had to put explosives under the vehicle to make them flip.   I don't remember what their second goof was, but within months of the SUV problem, they did it again.  That's the type of news we get today.  If the story isn't what they want, no problem - omit facts or twist it around.  Find the only expert on the subject matter that agrees with your tilt of the story.  I don't watch much news anymore, I search it out on-line and try to put the pieces together to get at the truth.

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okay children  put down your coins and pencils. the beginning of the 20 century america had empire fever we saw the chance in ww1 to bad we fought on the wrong side and had to wait until the german expansion ended the british empire we still fought on the wrong side. what we really got is the all the bad ideas the british used to justify to their people the need for an empire seventy two years of constant defense spending which has giving us lots of wealthy investors but a truly messed up economy and messed up population maybe you folks who are leaving the country should go to BERLIN OR TOKYO they have a much better life and they don not ever talk about HITLER never mind blame him
Dec 6, 2012 5:42PM
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We had a saying in the military...I heard it before and I recognize the smell...It's ****.
Dec 6, 2012 5:39PM
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clinton is the biggest contributor to this mess.

he's the one who wanted to give everyone a home even tho 75% of you couldn't afford one....

a typical democrat...give give give give.....to everyone who cries the blues....

Dec 6, 2012 5:29PM
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The only thing worth reading here is the bloggers, the article is pure B S
Dec 6, 2012 5:18PM
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This is an old story from the commie pinko Rex Nutting that was published on Marketwatch a FULL 2 weeks ago.

 

News to MSN - recycling of digital stories really doesn't do anything for the environment.

 

Come on MSN - try to keep up!

Dec 6, 2012 5:12PM
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This article was definitely written by a left wing liberal with an anti republican agenda.

 

Dec 6, 2012 5:11PM
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max sparticas. Need to tell you a lot of  smart people like to read your Postings. You are just great , and we like your performance when you respond to some of these jerks, and teach them about what politics is all about. We all hope you keep on writing, and keep giving these unprofessional, and people with minimal education a true taste of real political insides! keep on defending the cause of the minority , keep defending the abuses,  and the lack of respect for our president from these people that have no ethics, and no culture! we are truly very proud of you!
Dec 6, 2012 5:03PM
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Google Nutting and you will see that he has always been in the tank for Obama.
Dec 6, 2012 5:02PM
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How did this work of fiction and fantasy get on the money page????????????
Dec 6, 2012 5:00PM
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Clinton's tax cuts were based on inflated tax receipts from the dot.com boom. I guess all we need to do is to invent the Internet all over again - since it was widespread introduction of the internet (a ONE TIME event) that drove the Clinton economy.

 

Bush's tax cuts DID revive the economy - take a look at unemployment numbers throughout much of his term. We'd LOVE to have the "Bush" economy as compared to the mess we are in today.

 

Where is Franklin Raines in this list?  He was Clinton's budget director who first made the false "surpluses forever" claim - then he left to head Fannie Mae and put them into true subrprimes for the first time in 1999. I'd put him and his predecessor at Fannie Mae  - Jim Jones - at the top of the list.

 

Why are you calling it the "fiscal cliff" anyway - all this means is we are going back to Clinton's tax rates? The 5% of the population that the Bush tax cuts took off the tax rolls will go back on - where they should be if we are to keep spending anywhere near Obama's levels. Less than 15% of Americans did not pay Federal income taxes during the mid-1980's. The "normal" level is no more than 25%.  It went above 30% under Clinton, above 40% under G.W. Bush, and is almost 50% under Obama.  THAT is the major problem - people who want a nanny state but don't want to pay for it.

Dec 6, 2012 4:58PM
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There is question about, the mentally retarded Republicans have taken control of this article, and regardless of the common sense of the 20% of the intelligent ones, the rest  of you need to take a brake, go and pound on a rock your wrong interpretation of the article, and your lack of political education. No wonder for the last 10 years the USA is in a total economical disaster when people like the 80% of you walk this unfortunate planet earth. Take a trip and over populate the Moon,  that where you all belong!
Dec 6, 2012 4:57PM
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The real answer is (and please don't be mad honey) women. They (for the most part) can't make the tough decisions. It's not their fault! Their parentalinstinct kicks in. They want to help.

Our government is too big but they keep voting to make it bigger. All in the name of helping people. Think of all the programs that are suppose to help that have been implemented since women have had the right to vote.

Please think of taxes this way; We can confiscate what a person has for the benefit of the people. Just a way to make stealing legal. Now they hear that all it will take to get through this is all those rich people will just have pay a little more and of coarse it sounds harmful enough but it never stops.

Dec 6, 2012 4:50PM
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I see a lot of blind ignorance and agenda pushing 
Dec 6, 2012 4:42PM
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What all politicians from both sides of the aisle must do is accept the absolute necessity of managing our government per the same accounting standards followed by private business. I can absolutely guarantee that a zero based budget aka no more spending increases, for our government over a period of four years would get the deficit under control. It is VERY SIMPLE. You only spend what you bring in. If you want to spend more than you must bring in more revenue by growing your GDP. Come folks we demand that our corporations are regulated so why don't we demand that our government is regulated?  

 

Let's start controlling our expensives by stopping all pay for all poloticians until they sign a pledge to manage our contry and it's budget like business. I would imagine that we would see alot of carrer politicians throw in the towel and do something else. 

Dec 6, 2012 4:33PM
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I could agree with you, until you start broadbrushing with flowery accolades the virtue of the current president's contribution to the problem. The fact is, he really doesn't know what to do and he contributed 6 trillion to the 16 trillion in debt, and proposes to spend more.
Dec 6, 2012 4:32PM
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Economics 101:   Massive gov't debt=higher interest+higher taxes+higher infalation.  ala Greece, Spain, etc.

 

Job "creation" dependent on greater DEMAND!  Exception:  subsidized jobs i.e. government jobs.

Dec 6, 2012 4:29PM
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I don't need to read any further.

"The deficit would be a fringe issue."

This is insane, and I'm not reacting with guilt programmed by some master Kreskin manipulator.

Can you run a deficit at home? Can you spend more than you make, every week, forever, and it remain a "fringe issue?"

THIS is supposed to be a genuine and intelligent analysis of our national economic crisis?

Mr. Rex You Are An Effing Nut, I wouldn't let you run a lemonade stand with your OWN money.

Dec 6, 2012 4:23PM
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Its the same old story, the Republicans earn the money for the Democrats to spend.  Obamas energy green energy policy is specifically designed to kill fossil fuel power plants and raise energy prices.  This will kill manufacturing jobs and push them overseas.  The environmentalist movement is so backwards that they will not allow solar panel plants, wind energy, or hydro power here in Caliifornia.  California is absolutely on a death spiral.  It won't be long before agriculture is gone.
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