Countdown to the fiscal cliff

After a summertime lull, a series of potentially market-moving events lie ahead, leading to a federal showdown. Here's an end-of-year cheat sheet for investors.

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Dec 22, 2012 11:46AM
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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...
Oct 7, 2012 5:53PM
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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."-
Sep 4, 2012 8:21AM
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I hope that I get this right. The tax increases in the ACA are based on our normal tax rates without the GWB tax cuts? If I'm correct on this, one is dependent on the other. The GWB tax cuts can't be extended or the ACA will not get funded. Am I right here OR how does this thing work? This 500 billion spending cut from social programs and defense---each-- is going to be heavily debated. The consensus for a deal on this one should be pretty good. Neither party wants their programs cut. I agree with most. They'll dilly dally around, but in the end it'll get done. It's the trajectory of the national debt that needs changed. Without that, the chances of another downgrade are pretty great. Oh, don't you just love politics?  
Sep 4, 2012 6:31AM
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I don't know about Kool-Aid but much of what you say here is laced with pickle juice. Tax increases may not seem correct but they will come like a Tsunami unless we stop tax evaders. Private funds have been making billions and skirting tax obligations. If you do


Sep 2, 2012 6:38AM
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"Tax increases do nothing for a struggling economy. It seems everyone here is drinking the tax Kool-Aid. More taxes= bigger government spending & size. It is the opposite of what we need. We need to stop stimulus and bail outs, shrink the size of government by reducing spending, consume less, produce more, lower taxes, raise interest rates, bring back Glass-Steagall act."

 

I don't know about Kool-Aid but much of what you say here is laced with pickle juice. Tax increases may not seem correct but they will come like a Tsunami unless we stop tax evaders. Private funds have been making billions and skirting tax obligations. If you don't want higher taxes then we have to get RID of pariah. Bain Capital treated "management fees" as investments not income. If you grasp that some business executives paid Bain "an investment" to sell off it's assets dump it's personnel and give them windfall profits instead of calling it "income" then it must have been "hit" money and JAIL time would be the better solution for Bain and ilk. Stimuli and bail-outs already happened and with devasting trauma to America. Don't say "stop drilling holes in the dike" when the hole drilled in it already, have caused irreparable destruction. I think everyone who talks about smaller government and lesser expenditures needs a wake up call. I'll take a government that is precisely the size needed to run the country and the precise budget to do so. GIVEN that, business and financial sector pariah need to be put to death if they cross the line and meddle with our government. The slow death by financial control exceeds all other ways people die. You want to see Glass Steagall return? Me too. But I want segregation in more than just money touching, I want a government that governs, business that minds it's own wholly regulated business and PEOPLE who have the Rights our forefathers fought for. Romney proposes keeping the military as it is. It spends a BILLION a day in just size-funding and picks fights overseas while terrorists rape and pillage the homeland. How about bringing our people home, reconciling the entire commercial and military machine and creating a new currency, not to be hoarded but to take us into the 21st Century and beyond, not moored to Inflationistic thinking, devices and manipulation.

 

Close the banks. End the Fed. Get rid of Wall Street. If we aren't 100% invested in job recovery, we won't be here by the New Year.

Aug 30, 2012 5:03PM
Aug 30, 2012 4:51PM
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Yeah the problem is taxes are too low. Not.
Aug 30, 2012 4:31PM
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the government is an Innocent establishment they work and conduct by the constitution that peoples agree with it let Se the peoples how they Innocent many of them cheat on taxes col acting money from insurance that is not necessary women s getting pregnant with no marriage and fall on the tax payer money getting dent in cars and claim disability and many more sins that heard the system from politicians to small peoples try to squis as match  as they can refund on the 1040 that they know the system is broke and need every dollar stealing from the job place and let company loose money and on so before you blow air from your mouth on the president or the government  look at you hunchback you will come down and realize that you are not a saint to accuse others 
Aug 30, 2012 3:59PM
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"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."

OR... recover jobs. Plain out, if you don't think 50% more in taxes is good, then we need to get rid of hired-in executive "talent" making ridiculous wages and benefits. Millions of unemployed, under-employed and no longer looking Americans aren't lazy, they're suppressed by people making 500 times what YOU are. The sooner we lop off the top, the sooner the pain will stop. There never ever was such a job as financier, nor anything good about law firms, unregulated banks and politicians benefiting from both.
Aug 30, 2012 2:22PM
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On November 6th, for President, I will write in Forrest Gump!

 

At least he was able to make a profit for his business and not screw others by doing so.

 

No more "stupid is what stupid does" in Washington D.C. any longer!!!

Aug 30, 2012 12:57PM
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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.
Aug 30, 2012 11:57AM
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The US administration and the Congress are pathetic. Little wonder that the economy is suffering with high levels of government induced unemployment when even our elected officials won't do the job they are paid for! How pathetic! Meanwhile, the US voter is again left with a choice of one of two evils. Can't imagine why the US citizen would even care (just like their elected officials.) You see this lack of faith as abysmal participation on wall street (which is rigged through collusion of the US treasury and central bank anyway.) Nothing is more insulting then the assumption that you are stupid. No one believes the inflated asset and bond values in this deformed market. That is just how stupid we really are.
Aug 30, 2012 11:47AM
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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".

Aug 30, 2012 11:41AM
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Good article; however, one would have to be an idiot to believe the country can continue on its current path. Too many people EXPECT handouts while corporate executives and their boards are out of control driven by greed. Throw in the do nothings in Washington and the middle class is in a three way squeeze. We don't have anyone with the mentality or balls to lead the country. The ballot box just isn't working while the apathetic and uninformed voters continue to sell thir freedom for crumbs from Washington. I am tired of supporting socialist handouts to underserving people that can work. The fiscal cliff could be a blessing else we face massive civil unrest or even a civil war. One way or another the wasteful spending has to stop.

Aug 30, 2012 9:39AM
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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.

 

Aug 30, 2012 9:32AM
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"fiscal cliff", is just a joke that will be fixed at the very end just like all the other "cliffs" before."

Famous last words, I'm afraid. There are obstacles. First, the- throw money at it... philosophy is how we got here. Second, who do YOU know who has wealth is willing to part with some? Third, we are unable to stop segregate suppress or disable the financial sector. It has the Gramm Leach Bliley Act of Terrorism on it's side and cleverly, the Head Supreme Court Judge and Congressional House are bought and paid for in offshore accounts. YOU need to realize that grandpa knows he is in his final years. Any psychologist will tell you that his grandpa's Budweiser-fried brain would like to go down in history for taking down America. HE built it, you know. Romney will speak tonight. Take the time to listen for solutions, not just trash talk noise pollution. A reminder, any idiot can start a war, very few can stop one. IF YOU truly want to help the nation not careen off the 'fiscal cliff', these things I repeat often MUST happen now...

Close the banks: they finance and fund terrorism (HSBC, BofA, Wachovia, etc.). End the Federal Reserve: it printed us into this corner. With TARP and Quantitative Easing, we would have had BRIEF hyper-inflation, then blow-out, full job restoration and a two dollar DOW because all the Blue Chips terminated personnel, sold the factories, assets and trade secrets, then invested it in anti-American ventures like Shanghai no-questions-asked accounts, Cayman accounts and Euro Shark Bonds. Get rid of Wall Street: name an Exchange that is not deranged and taking us off that fiscal cliff? B of A and Goldman Sachs are LEADING GOP campaign donors. BOTH were involved in legal matters that were mysteriously dismissed. go figure why. If we aren't 100% invested in job recovery by the New Year, we won't be here. While the GOP would have dim minds believe we are spending too much, commonsense says- when one family- the Waltons of Wal-Mart are worth more than 120 MILLION of us (30% of 400 million), whole cities cannot function, 100 MILLION families are impoverished, schools close, crime is up and we have the single largest number of Americans given up on finding work (most major corporations are headed by card-carrying Republicans)... then it isn't SPENDING, it's job RECOVERY that makes revenues from taxes that can settle our incredible debt-- whose instruments are owned by banks and Republicans!!!!

FIGURE IT OUT, AMERICA. While there still IS an AMERICA. 
Aug 30, 2012 9:17AM
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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.
Aug 30, 2012 8:51AM
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"fiscal cliff", is just a joke that will be fixed at the very end just like all the other "cliffs" before.  This is just propaganda to promote MSN's, MSNBC's lap dog Obama.  MSN is just a liberal talking point source of misinformation.  We are not running off any cliff, it will get done, though the media will push the "fear factor" for all it's worth.  Never underestimate the stupidity of the American people. 
Aug 30, 2012 8:26AM
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If everyone would go out and buy things they need the economy would start to go up! 
Aug 30, 2012 8:01AM
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If Mitt wins the election and all of the tax hikes spending cuts take place Obama will declare Martial law and takes over the country to save us all from disaster. He wins even if he loses. Our savior will save us all. Then he can control the country any way he wants.
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