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 10:08AM
Dec 4, 2012 10:07AM
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GO OVER THE CLIFF!   Everyone needs to pay taxes. The 47% that does exist, do not pay taxes or get all of the taxes they pay back at the end of the year. A protion of our society has become addicted to tax refunds and gettting all their tax dollars back. Taxes need to be paid by everyone, as well as social security needs to be raised back up two or three percent to where it was a few years ago.  SS is my money, everyones money that has paid in.  Not a bank account for the government to raid at will!
Dec 4, 2012 9:59AM
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I haven't heard anything about cutting congresses benefits only ours.How many of them make over $250,000 a year maybe there thinking of themselves.

Dec 4, 2012 9:58AM
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We have a small and incapable man attempting to run the country. He owes so much to special interests that he can not do what is needed for the country.

He has not even been sworn in for the next four years and he is bringing the country to its knees. Unable to compromise, unable to have an original thought, unable to lead. In four more years the USA will be a third world country and asking for handouts from the Greeks.

50% of the voters selected the wrong direction and will effectively pull us all down with them. How many of these qualified voters could find their state on a map if it was not notated. Probably 5%.

But ask them who is on Dancing with the Stars or The Voice.

Stupid is as stupid does.

GBA

Dec 4, 2012 9:54AM
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The worst case is if the debt problem is NOT solved. Then not only do you fall off the fiscal cliff but someone up top throws boulders down on you.
Dec 4, 2012 9:54AM
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Just terrible we have to try and depend on our elected officials,they have not got a clue

 

Dec 4, 2012 9:50AM
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If you're like me, you wonder where we went off the rails.  Our founding fathers were merchants, college presidents, scientists, farmers, real estate speculators, and public officers.  I firmly believe the vision for the public servants elected by our great nation was not one of career politicians.  These people had their own jobs and responsibilities, and it was a great honor and sacrifice to serve your country as a legislator.  It wasn't an entitlement and certainly wasn't the first choice of occupation.

 

Impose term limits, 6-8 years max, on everything.  Service for 6 years constitutes a complete career in politics, no go back home to your business and get on with your life.  Don't drag the country down with spending all of your time trying to get re-elected and sitting fat and happy.

 

Institute a Congressional salary that is commensurate with what the average American makes.

 

I think our forefathers would be appalled to see the system of government we have mutated into.  Not evolved, because evolution infers advancement.

Dec 4, 2012 9:18AM
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Of the people, by the people and for the People? What People? Lets make sure that GE and other companies pay their "Fair Share" since they pay no taxes at all............Seems that some think if we make GE pay taxes they will move more resources over seas........Hmmmm aren't they already over seas? The CEO of GE is one of Obama's Czars
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Wow.... really? Still blaming one party or the other just as its always been done. Most of the posts here are rediculous with their distorted view of history on behalf of their own party. The issue is not who is sitting in the White House. The issue is the ability of Congress to NEGOTIATE civilly with one another. So stop the name calling. Dems were as happy with "W" second term as the GOP is with Obama's. Who cares!
Dec 4, 2012 9:13AM
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Lets get rid of all our so called "leaders", put the bankers in jail.  Time to take back OUR COUNTRY!

 

Dec 4, 2012 9:10AM
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Can you say "It is time for a flat tax"
Dec 4, 2012 9:06AM
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what really yanks my chain is fiscal responsibility. folks walked away from expensive houses and filed bankruptcy and got a clean slate. I invested and lost 40% of my nest egg and thats just too bad for those that didnt overspend trying to plan for their future. its not fair.
Dec 4, 2012 9:04AM
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Poised on the Fiscal Cliff are a bunch of Lemmings and where would you be if you were their leader....Leading from behind of course! Get away from D.C. as often as possible at the expense of the American People.
Dec 4, 2012 9:01AM
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Tax the rich and the rich who own those companies will just pass on the cost to the "poor". Take from the rich and there will be no incentive to do better or to do more, and the poor will have less to take.
Dec 4, 2012 8:55AM
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the fiscal cliff voted into being by both parties is not the problem.  Its another sidetrack.  Scare everyone.  Ovomit  wants control over the debt ceiling and the dumbocrats more handouts and stimulus (which did not work, never has).  the republicants want the rich left alone.  Well the govt is spending 1.3 trillion over what it makes.  Cuts need to be made.  So scare people.  cuts to medicare, cuts so ssi, Well, i found out how much money you can make on food stamps and welfare.  $5,500 for three families of 3.  Thats $14.01 an hour sitting watching tv.  Minimum wage is $7.25 an hour.  Where is the incentive to find a job.  We have the rth generation of welfare recipients coming up.  Now theres some cuts.

But it dont matter.  after the troops come home, and the military starts cuts on defense spending, the depression is going to hit, its already started if you look around. about 2015.  the last thing that pushed the US into the great D was taxing imports.  Course we will have WWIII to get us out. if we survive. Good luck

Dec 4, 2012 8:55AM
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Can you not put the entire article on one page?? It is annoying to have to flip through all thses pages to read an article.
Dec 4, 2012 8:50AM
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Cutting entitlements will cost a politician votes.   A politician is there for the power, they don't care

about you and will do anything to keep the votes coming.   The Democrats are probably the worst

about overspending, however the Republicans have been preaching fiscal conservatism for

years, but when they get elected...it's just more spending and debt.

Dec 4, 2012 8:49AM
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You can either go over the cliff now or put it off and go over a higher cliff later.   As we go along, there are fewer and fewer places to get loans and rob (i.e., pensions).  A good part of the answer is improving national efficiency and effectiveness -- where we all get the most benefit.    Government politics is counter productive in many aspects to this idea.
Dec 4, 2012 8:44AM
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Some of you voted for Obama, our new leader who is still out campaigning !
Someone should tell him , he won and he needs to go to work now .........
Oh that's right, he never had a real job so he is still learning. 
American people had a chance to get the right person for the job, instead we picked
"the one who tells us what we want to hear" 

Now we all will pay the price, BIG Government does not work, ask any European country,
No question our Democratic, free enterprise way is not perfect, but at least its our choice. 
I started my small business on the extra money I made on my house, this opportunity will be eliminated with new taxes tat will be wasted by government 
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