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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Fiscal cliff is worst case scenario now. Was it best case scenario when created
at the time President Bush.GOP was in majority.We elected them. Now face
Defense spending will be cut (which is good), and republicans will scream about whatever scare-of-the-week Fox cooks up. But we will still have the worlds biggest military, and we will still have our freedom. Defense companies will lay off workers, which will nudge unemployment up by a percent or two.
Companies will still not hire, because they do not need to. They are getting more work out of smaller crews, and they are making record profit. If they actually needed workers, they could easily hire with the pile of cash they are sitting on. The reality is, they DO NOT NEED those workers. Technology has made each worker more efficient, reducing the head count needed across industries.
The removal of the child tax credit is a GOOD THING. People will think twice before crapping out another mouth to feed. If they do not get a tax break, they will actually have to consider whether they can afford another mouth-breather.
And the sun will rise... and life will go on.
What's the worst that could happen........ Well you Yanks could end up like Rome. Over stretched military, huge debt, massive corruption, middle class being destroyed, slave labor taking all the jobs (illegals and outsourcing). Sounds familliar.....
Thing is there are no barbarians to deliver the death blow.... you would more likely end up like Spain in the late 1500's. After being the world power built by the riches of the new world their kings screwed up for decades. They borrowed money against gold from the new world that was on it's way back to finance endless wars against the Turks, France, England and the Dutch. Privaters hired by their enemies made sure their gold never reached Spain, and the unsuccessful wars and lavish spending on castles and palaces Spain went bankrupt several times.
They didn't collapse like Rome but slowly became a nothing on the world stage, plagued by inflation. That is more likely then a Rome style collapse.
Or the dead could rise pissed off that the country is in the shape it's in and feast on us all...... either or.
define "fair share". I bet your definition of your fair share and their fair share is two different shares.
how about a flat tax that we ALL pay at the same rate. You won't live long enough to pay the millions in taxes the fabled "RICH" like Romney have paid if you were taxed at 100% of your money.
Hey max stupidus,
Who has run up more debt in 4 years than all other presidents combined? obama is a failure, re-elected by other failures who depend on the almighty government for their livelihoods.
I don't know about everyone else, but I'm sick & tired of supporting these LAZY welfare people that only have more kids so they can get MORE $$, i.e. food, housing, medical, & other handouts! And why in the world do we have to support these "latinos" coming over the border just to have their kids & run back to Mexico & collect SS benefits for their brats! What the hell! Can I have my kid in Mexico & get their government to support my brat too? And this crap of extending the unemployment benefits is just another way LAZY people get to LEECH off of the system. If I can work at a minimum wage job to get by...why can't these LAZY people do it as well! And REALLY, who cares if we have a zillion types of coral in the ocean or some groundhog is going to lose his home! The ocean is HUGE & we have millions of groundhogs everywhere! Have science pay for their research instead of the government! And as for the rich, quit giving them loophole after loophole to hide their money! Also I agree the white house and congress is WAY OVER PD FOR WHAT THEY *DON’T* DO. We need a businessman in the president’s seat, not a pattycake sissy!!
Best to eliminate career politicians. NO need then to waste taxes to buy votes to stay in office.
Please indicate when you post if your family receives money from Uncle Sam or pays money to Uncle Sam.
I suspect that influences most people's opinions concerning this issue.
Do you sign the front of the check or do you sign the back of the check?
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