Fiscal cliff: Worst-case scenarios

If Congress and the Obama administration can't come up with a deal to mitigate the effects of spending cuts and tax increases, the pain could be considerable.

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550Comments
Dec 4, 2012 2:56AM
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I'm sick and tired of all this succession talk, if you don't like America please leave.

As far as the cliff goes we need to stand up, protest, and say enough to our leaders who don't want to find a solution. Now if that doesn't work then make sure they don't get paid until they do the job we sent them there to do amd find some solutions to the problem. I'm tired of their excuses and it the other parties fault. ENOUGH I say to them...

 

Dec 4, 2012 2:52AM
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Wallace, easy or you are going to have to take more Meds...Or did you already take the Whole Bottle.??
Dec 4, 2012 2:47AM
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Some how the "worst case" looks like a correction to me.

Why underfund Social Security further? Why not raise taxes and shrink benefits to  reduce the deficit? Why no get the Feds out of state and local government business, like education? Why not trim the military-industrial complex a bit?  And finally, why not cut the bureurocracy, the overhead, on programs that are meant to serve people? 

The compromise solution will be classical Washington - kick the can down the street without hurting the lobbies and PAC interests. We'd be better off  swallowing the medicine now.

Let the cliff happen.

Dec 4, 2012 2:42AM
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The true irony of the Obama re-election is that the Americans that are the most affected by his failures are the same Americans that kept him in office.  As for if the Whiner in Chief will ever be accountable for his decisions....... it doesn't matter when a majority believe in "Obama we Trust".
Dec 4, 2012 2:26AM
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Uh, I think that actually sounds pretty good. 

Doctors Take a 27% pay cut, which help make SS more solvent, while paying higher taxes to balance the budget.

Military spending has to come WAY down, but Military Salaries don't.

The 10% Tax Bracket ends.  Who thought that was fair for any American to pay so little anyway?

Taxes go up on the Rich and Middle Class, back to the Clinton Years.  Hey, remember how freaking awesome those years were economically?  I'd take those back any day.

Etc, etc, etc., it sounds like a good plan actually!

Dec 4, 2012 2:20AM
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Since the Republicans are never listening, just let the tax cuts expire, that is the only way they will start listening. 
Dec 4, 2012 1:18AM
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Cut military costs.  Did you know that the YF22 cost about 150 million each?  And that they have never been used in combat?  Now we are building a JSF35 at about 200 million each, and going up.  Why?  When the last JST35 rolls off the assembly line it will go straight to a museum.  Future aircraft will be UAV's.  And exactly what kind of combat are we involved in right now?  We are on the ground with tanks, APV's and helicopters.  We also have 7 Nimitz class aircraft carriers.  With all the support vessels, how much does it cost to keep those floating?      
Dec 4, 2012 1:10AM
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The only good thing I see about the fiscal cliff happening is the elimination of the EIC (Earned Income Credit).  The EIC gives money back to people, through their taxes, that don't even pay income taxes in the first place.  It's like getting free money without having to justify why the rest of us should give it to you.

 

Pull up your britches, folks, I think Obama really wants us to jump off that cliff!  Then he will blame it on the GOP, just like he blamed Bush, so he can justify it's not his fault.

Dec 4, 2012 1:09AM
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It's still too early for the millionaires of Congress to actually do something.  They are Actors.   And they care less about the very people that employ them.
Dec 4, 2012 1:04AM
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In my household, when finaicial times get tough, we look at where can we cut spending FIRST!!!

 

Once every spend cut has been implemented and there still isn't enoug income to pay the bills, THEN we look for other income opportunities.

 

It's just common sense...which politicians seem to lack.

Dec 4, 2012 1:00AM
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What is funny you ask a right winger if we have illegals here...Heck yes.  Are they working?  I dunno.  Naww they are all on welfare.

 

So, those guys, five ft tall, don't speak English on that roof are my immagination?  Yes, It's a liberal lie.

Dec 4, 2012 12:58AM
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Yeah, Bush invade Iraq.  Cost?  Who cares.  fast forward...........we are broke.  wahhhhh
Dec 4, 2012 12:57AM
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I hear we need tyo invade Hati,..they have some WMD...wink
Dec 4, 2012 12:56AM
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We need another war...wave that flag, bring on Hannity and that gal to sing that Freedumb song.  Now, be advised that only working class need apply to tyhe military, the rich, like Romney, will do some...er.....missionary work in Las Vegas or Paris.
Dec 4, 2012 12:54AM
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Don't tax me.  My name is Chico and I'm illegal and I work for  Mr Tyson's cheeken plant .  I don't got no stinkin healthcare so they send me to the local ER and you get the bill.  Good for me and Mr Tuson's new yacht.  You Americans are suckers , at least that is what Mr Tyson calls you....among other bad names like lap dogs, morons and worker bees
Dec 4, 2012 12:53AM
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Mr. Kerry Brown said it to a TEE....if'n the rest would SEE IT...we be Golden!
Dec 4, 2012 12:52AM
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Why should a single worker with a good wage, unable to itemize income tax have to pay 27%?  And Mitt for example, who doesn't work, pay only 15% income tax on his "investments".  Why is a paycheck taxed higher than a "dividend check"?  Why did GE pay no tax on 3.2 billion dollars?  I don't want the wealthy to pay all the tax.  I don't want the middle class to pay all the tax.  I just want a fair tax.  Flat tax now!  No write offs, deductions, loop holes or anything else.   
Dec 4, 2012 12:50AM
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Who wrote this? Much of the gloom and doom contained in this article will never happen. At least on the scale spelled out here. Example: military spending will be cut $60 billion a year. Much of that will resulf from the scheduled drawdown in Afghanistan. The remaining cut will likely be less than 5% of the remaining budget so why would Lockheed-Martin cut employment by 50%. Much of the rest of the article is just as reckless as this example. Did Dan Senior (sp) write this? It certainly does not reflect what CBO has been saying so one has to wonder who's ox is being gored here. It is certainly some of the worst writing I have ever seen on this subject.
Dec 4, 2012 12:50AM
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I'm upset folks.  My CEO only..sniff, makes 600 times what I make.  How, Oh God, will he maintain his staff of 50 servants and the  pool boy?  Wahhhhh
Dec 4, 2012 12:49AM
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Why don't the weak minded cowards cut real wasteful spending like welfare and paying millions to the mothers of welfare for having babies. This is the only country that pays for voters to have babies they cannot support and have the working taxpayers pay for their babies.
No they want the taxpayers to work until they die by raising the retirement age and medicare benefits. You get rewarded in this country for being sorry a drug addict, an American hater, and a congressman.
A bunch of coward congressman, we need men and women that will support the working class of America and not reward the "I'm entitled  group".
I would love to get an interview with the president, would he be embarrassed.
Charles Draper

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