Countdown to the fiscal cliff

Sorry folks but tax increases and spending cuts are going to have to happen if we are going to balance the budget and reduce federal debt. It will be painful and no one is going to like it. We are going to have to raise taxes by 50% or reduce spending by 35% or we will be another Greece.

 

How about if either canidate just let the tax hikes stick? Since the fortune 500s are holding the good jobs up their rectum anyways let the bubble pop! Let massive amounts of folks & businesses fail then all the froth can be cleaned out of the housing market as well. Maybe if the crap had just run its course in 2008 wed be past this point of bickering by now.

The impending financial cliff has been obvious to anyone who cared to look for many years.  It's a shame that President Obama continued to throw-away our tax dollars to his unionized supporters and continued corporate chronyism to Obama supporters like Solyndra, as opposed to preparing our nation for the necessary changes that MUST happen for us to survive.  If these changes don't occur, then the nation we know will be OVER, and any money we've saved in US currencies will be worthless too. Hope and change?  Instead, now let's hope FOR change!

Super good job Anthony.  I don't expect you to be perfectly right on on everything; nobody who is a realist would, but knowing there is at least one person who attempts to have a vision for our future is good.  Interesting to read, share, and follow how these events do pan out.  My thoughts and feelings are still transitory.  I can feel the compression building; like anything it never goes straight up or down, and a deep frightening pall is taking shape.  I think many folks will very soon begin to question their financial survival capabilities.  The term working without a net becomes more appropriate. The wrenching from a subdued calm to a caustic gut aching period is very near. I think folks will begin listening less to Washington and more to their local government for answers.  Think small and local will replace the big Washington picture.  I feel business will become more local and we will see small business retool, reinvent, and reman.  The big boxes like Loews, Home depot, and Walmart will fade from the forefront. I am very sincere in my feeling we need interest rates to rise.  I understand clearly the effect this will have because of the monster in the room, debt!  But  without a reasonably sane return on capital we will continue to compress and provide fuel for social unrest.  Washington has spent us into a corner.  The debt and the ensuing low interest rates needed to service it will act as a straightjacket to any recovery. The perils of debt and how  to escape from it will provide the subject for economists to write about for many years to come.

I am going to get some bags and fill them with Coal ! Better then Gold !

Vote Libertarian with me this 1 time.  If after 4 years you want to go back to the mess we have now you can always vote it back in. If you want more war, more taxes, more government, and less freedom vote for Obomney.

If the republicans take the whitehouse, senate and house then we can expect a log jam to be released. For better or worse the economy will surge and we will retun to full employment rapidly. Banks will benefit and will begin lending again for sure. Small businesses will feel a surge of confidence because the will have an ally in the whitehouse.

If Obama wins and the democrats hold their current status we will simply limp along for another 4 years. The damage to our economy will be so long lasting that it may take 5 presidential terms to recover if that is even possible.

To quote a certain VP "this is a big %$^#%^ deal".

Presidential Debate

This tells the whole story, why Bush was so bad at the end of his term. Don't just skim over this, it ' s not long, but read it slowly and let it sink in. If in doubt, check it out! The day the democrats took over was not January 22nd 2009, it was actually January 3rd 2007, the day the democrats took over the House of Representatives and the Senate, at the very start of the 110th Congress. The Democrat Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995. For those who are listening to the liberals propagating the fallacy that everything is "Bush ' s Fault", think about this: January 3rd, 2007 was the day the Democrats took over the Senate and the Congress. At the time: The DOW Jones closed at $12,621.77 The GDP for the previous quarter was 3.5% The Unemployment rate was 4.6% George Bush ' s Economic policies SET A RECORD of 52 STRAIGHT MONTHS of JOB GROWTH! Remember the day... January 3rd, 2007 was the day that Barney Frank took over the House Financial Services Committee and Chris Dodd took over the Senate Banking Committee. The economic meltdown that happened 15 months later was in what part of the economy? BANKING AND FINANCIAL SERVICES! Unemployment... to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOES! Bush asked Congress 17 TIMES to stop Fannie & Freddie - starting in 2001 because it was financially risky for the US economy. And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac? BARACK HUSSEIN OBAMA! And who fought against reform of Fannie and Freddie? OBAMA and the Democrat Congress So when someone tries to blame Bush.. REMEMBER JANUARY 3rd, 2007.... THE DAY THE DEMOCRATS TOOK OVER!" Budgets do not come from the White House. They come from Congress and the party that controlled Congress since January 2007 is the Democrat Party. Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 & 2011. In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases. For 2009 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the 2009 budgets. And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete 2009. If the Democrats inherited any deficit, it was the 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets. If Obama inherited anything, he inherited it from himself. In a nutshell, what Obama is saying is "I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th." There is no way this will be widely publicized, unless each of us sends it on! "Apparently, I'm supposed to be more angry about what Mitt Romney does with his money than what Barack Obama does with mine."-

What don't the Republicans get???  Obama won the Presidential race because the citizend of the USA sent them a message!  We are tired of the Republicans playing games with our money.  Get a clue and get this thing done!!!  The Republicans are committing political suicide...