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Lawmakers: We're Likely to Go Over the 'Fiscal Cliff'
Reuters ^ | 12/23/12 | Philip and Karen Smith

Posted on 12/23/2012 5:42:55 PM PST by Typical_Whitey

Top U.S. lawmakers voiced rising fear on Sunday that the country would go over "the fiscal cliff" in nine days, triggering harsh spending cuts and tax hikes, and some Republicans charged that was President Barack Obama's goal.

"It's the first time that I feel it's more likely that we will go over the cliff than not," Senator Joe Lieberman, an independent from Connecticut, said on CNN's "State of the Union."

"If we allow that to happen it will be the most colossal consequential act of congressional irresponsibility in a long time, maybe ever in American history," Lieberman added.

(Excerpt) Read more at cnbc.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: 112th; fiscalcliff; obamadebt
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Eyes on the Market 12/24 could be we are in for the great Christmas Crash of 2012.
1 posted on 12/23/2012 5:43:01 PM PST by Typical_Whitey
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To: Typical_Whitey

well lieberman you and the others permitted the criminal pelosi to certify that ubama was qualified when he was not. Deal with it.


2 posted on 12/23/2012 5:46:06 PM PST by yldstrk (My heroes have always been cowboys)
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To: Typical_Whitey

Just what the Obamaprick wanted all along.


3 posted on 12/23/2012 5:47:18 PM PST by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: Typical_Whitey
Losers like Boehner in the House need ONLY to pass a Balanced Budget, and send it to the Reid-Dictated Senate.

PUT THE LOAD ON THOSE WHO CAUSED the Debt with massive handouts to Unions, Banks, and Blacks.....Bring it on!

4 posted on 12/23/2012 5:48:07 PM PST by traditional1 (Don't gotsta worry 'bout no mo'gage, don't gotsta worry 'bout no gas; Obama gonna take care o' me!)
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To: traditional1

Obama’s goal all along. What an asshat.


5 posted on 12/23/2012 5:50:49 PM PST by whitedog57
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To: Typical_Whitey

That’s 0’s plan.. He can’t wait to place ALL the blame on the GOP in his ‘I’naugural speech, emphasis on the ‘I’ of course. If only he could orchestrate his gun grab before the crash.. I don’t know if that’ll be possible, logistically, but things might go into overdrive now. America has proven to be highly resilient in the face of 0’s wrecking ball. An American president could’ve fixed this mess, starting with easing regulations on small business, curbing EPA’s power, cutting gov’t spending, building the XL pipeline.. Ya know, all the things 0bamugabe is purposely NOT doing to ALLOW America to fall. 0’s approach to America’s decline is the same as his handling of Benghazi; Take your hands off the steering wheel and sit back and watch the worst possible thing happen.


6 posted on 12/23/2012 5:54:31 PM PST by Obama_Is_Sabotaging_America (IMPEACH OBAMA)
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To: Typical_Whitey

Joe’s been part of the cabal who has spent more than they have in revenue. You’re despicable Joe. A total putz and a-hole. Don’t let the door hit ya on the way out. F’ing Liberal.


7 posted on 12/23/2012 5:54:44 PM PST by VRWC For Truth (Roberts has perverted the Constitution)
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To: Typical_Whitey

It’s more of a bump than a cliff.

We have to cut spending. If the govt doesn’t have the nads to do it, then let’s let it happen automatically.


8 posted on 12/23/2012 5:56:33 PM PST by lurk
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To: Typical_Whitey

Yeah, and Im looking at my 3rd layoff in 3 years if it happens.


9 posted on 12/23/2012 5:58:06 PM PST by sean327 (God created all men equal, then some become Marines!)
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To: Typical_Whitey

The communists empire in America has this Country tied up in a knot. There is no solution with the sad ignorant GOP. Add to that the vast majority of ignorant American. The House is useless and the next four years will spell the end of the Republic unless a total crash.


10 posted on 12/23/2012 5:59:30 PM PST by Logical me
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To: Typical_Whitey

Stock market is mostly BS, free fed money is making it blow up(bubble style), So I am not sure we will see a crash.

As for the BS of fiscal cliff, what tripe we went over that cliff years ago and still none of them offer a reality check or real numbers to address the fact our Debt cannot be paid back...

The real question is when do all the tape and rivets fall off and the machine tears itself apart. A week, a year or 5 more years? I say sooner rather than latter.


11 posted on 12/23/2012 6:01:21 PM PST by jafojeffsurf (Return to the Constitution)
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To: Typical_Whitey

Looking on the bright side, it does force real cuts in government spending, although they are across the board in which case Defense will take a big hit.

Let’s face it, our government is corrupt to the max, and that includes both parties. We have not had a decent President since Ronald Reagan. Both Bushes were disasters. The first got us into a war in Iraq to overthrow a tyrant dictator in order to support an Arab monarchy. That dictator was at least maintaining control of the Muslim groups in Iraq.

Then we have Bush Light who proceeds to go into Iraq supposedly because of weapons of mass destruction but likely because Saddam Hussein had attempted to kill his father. Look at the mess in Iraq today and consider how many American military were killed and wounded and at the huge financial cost to the US.

Then Bush Light puts us in Afghanistan supposedly to get Bin Laden. Instead, we get involved in a major military action that has cost many American lives and injuries, again at a huge financial cost and accomplished nothing other than support a corrupt government.

Further, we have Bush Light spending money we did not have by buying into nearly every spending program the Dem controlled Congress passed.

As to Clinton, he benefited from having a Republican Congress for part of the time which somewhat helped to limit spending, but he did nothing when the World Trade Center garage was bombed, thus making it a target for Bin Laden several years later.

And now we have the biggest fraud of all in the WH, and Americans were dumb enough to put him back there for another four years.

So, bring on the so-called fiscal cliff. The sooner this country is forced back to reality, the better.


12 posted on 12/23/2012 6:01:42 PM PST by CdMGuy
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To: Typical_Whitey

Even stupid Americans will have to wonder where Obama was when we fell over the cliff and why he didn’t work to prevent it.


13 posted on 12/23/2012 6:07:45 PM PST by Crucial (Tolerance at the expense of equal treatment is the path to tyranny.)
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To: Typical_Whitey
"If we allow that to happen it will be the most colossal consequential act of congressional irresponsibility in a long time, maybe ever in American history," Lieberman added.

It was Oboma that set up the committee that designed it. This is his project.

BUT, the cliff is the only way to cut spending. No other bills have that. The rest are all tax payer theft and nothing more. It's unfortunate the tax slaves also get whipped in this bill, but they always do. (Washington uses us as slaves. Without us slaves, our masters would starve.)

14 posted on 12/23/2012 6:16:50 PM PST by concerned about politics ("Get thee behind me, Liberal")
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To: Typical_Whitey

Loserman is still an idiot.


15 posted on 12/23/2012 6:25:52 PM PST by Jim Robinson (Resistance to tyrants is obedience to God!!)
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To: Crucial

Even stupid Americans will have to wonder where Obama was when we fell over the cliff and why he didn’t work to prevent it.


Nope. There is a large chunk of the population who just can’t process the fact that is it extremely damaging to raise taxes in a weak economy. They are all on Team Kenya now.

More of the same = status quo = kenyan getting everything he wants. Until we accept that the GOP has lost the “big idea” debate for the short term we will continue to lose to the kenyan.


16 posted on 12/23/2012 6:26:46 PM PST by lodi90
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To: Typical_Whitey

Since Barry and the ‘RATS are taking the country that way anyway, the “cliff” is probably the fastest way to the bottom. Why drag it out?


17 posted on 12/23/2012 6:32:14 PM PST by FlingWingFlyer (U.S. elections have become nothing but another cheap ripoff of American Idol.)
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To: Typical_Whitey

I would make sure the president knows, as well as Senator Reid that there will be no increase in the debt ceiling until O details his plan for $1.25 trillion in real cuts and the senate passes a budget.


18 posted on 12/23/2012 6:36:26 PM PST by Hipshot 6 (Hipshot 6)
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To: Hipshot 6

No Democrat will ever cut anything, their looney nut base won’t let them... here is a sample of Democrat response just on tax reform not even entitlement reform I love the way Maria Bartiromo tears up Cardin, she gets applause from the traders too....

http://www.youtube.com/watch?v=WoQG7ev5dos


19 posted on 12/23/2012 6:41:45 PM PST by Typical_Whitey (The political mirage of something for nothing; has ruined many a nation.)
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To: Typical_Whitey

“If we allow that to happen it will be the most colossal consequential act of congressional irresponsibility”

No that would have been TARP followed closely by Obamacare. But the fiscal cliff agreement is a dishonorable mention.


20 posted on 12/23/2012 6:45:37 PM PST by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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To: Typical_Whitey
"It's the first time that I feel it's more likely that we will go over the cliff than not," said Senator Joe Lieberman. "If we allow that to happen it will be the most colossal consequential act of congressional irresponsibility in a long time, maybe ever in American history."

Don't you love the way this scumbag gives the African communist Ubama a pass?
It's all because of congress.

21 posted on 12/23/2012 6:49:29 PM PST by Lancey Howard
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To: Typical_Whitey

If we do its a 4-5 points of GDP impact in 1Q13. Based on forecasts of 1-1.5% GDP growth in 4Q12 we would be looking at a 2.5-3.5% GDP contraction in the first quarter. It will abate from there but 2Q13 will also be negative which will be a technical recession. The writes have been counting on a deal. We cold see a 10-15% correction if the above scenario happens. Then we hit the debt ceiling in February...


22 posted on 12/23/2012 6:50:03 PM PST by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Wyatt's Torch
We cold see a 10-15% correction if the above scenario happens. Then we hit the debt ceiling in February...

We're going to have to ween the freeloaders from the public teat sooner or later. We might just as well get it over with now (before they breed another batch).

"Stay prepped, my friend."

23 posted on 12/23/2012 6:56:40 PM PST by concerned about politics ("Get thee behind me, Liberal")
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To: Typical_Whitey

Wow! That was a great YouTube right there!
Thanks for posting the link. I like Maria Bartiromo.


24 posted on 12/23/2012 6:59:35 PM PST by Lancey Howard
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To: Typical_Whitey

Have you seen the press asking where Obama is? I consider it to be a Christmas present that I don’t have to see President Pee Wee looking professorial behind a podium every day. The country seems to do just fine without his constant presence in Washington.


25 posted on 12/23/2012 7:00:27 PM PST by blueunicorn6 ("A crack shot and a good dancer")
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To: Hipshot 6
I would make sure the president knows, as well as Senator Reid that there will be no increase in the debt ceiling until O details his plan for $1.25 trillion in real cuts and the senate passes a budget.

Just a point of clarification. $1.25 trillion PER YEAR, starting in 2013.

26 posted on 12/23/2012 7:01:05 PM PST by Go Gordon (It's barack hussein obama - because he doesn't believe in capitalism.)
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To: Typical_Whitey


27 posted on 12/23/2012 7:13:28 PM PST by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: traditional1
Losers like Boehner in the House need ONLY to pass a Balanced Budget, and send it to the Reid-Dictated Senate.

Since the Senate will not comply with it's Constitutional duties and pass a budget - now missing for over three years - the House needs to starve the beast and refuse to send the Appropriations bill to the Senate. HEY GOP - THE PUBLIC HAS PICKED YOUR PARTY TO BE THE FALL GUY, LET'S SEE YOU STAND TALL AND PERFORM YOUR FUNCTION. GOP LED HOUSE SHOULD BE PLAYING THIS JUST AS WELL AS HARRY PLAYS HIS LITTLE POLITICAL GAME - HOLDING THE AMERICAN PEOPLE HOSTAGE.

STOP THE SPENDING.

28 posted on 12/23/2012 7:15:08 PM PST by Cheerio (Barry Hussein Soetoro-0bama=The Complete Destruction of American Capitalism)
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To: Typical_Whitey

Ok...just shove the first moron off the cliff with the economy.


29 posted on 12/23/2012 7:23:49 PM PST by LUV W (All my heroes wear camos!)
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To: Lancey Howard

Tax rates return to what they were a few years ago, a little spending is cut, and it’s virtually the end of the the country according to Senator Lieberman? Joe has gone as soft in the head as Biden has been all along.


30 posted on 12/23/2012 7:27:33 PM PST by LiveFree99
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To: CdMGuy
The first got us into a war in Iraq to overthrow a tyrant dictator in order to support an Arab monarchy.

We didn't overthrow a dictator in GWI. Hussain invaded Kuwait and the Saudi oil fields and a coalition of countries put him back in his box. Bush I did it right. Bush II performed a preemptive invasion and should have left enough alone.

31 posted on 12/23/2012 7:43:19 PM PST by plain talk
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To: All

The Democrats are throwing the private sector over the fiscal cliff no matter what.

The Democrat tax increase on those earning 250k and above will only increase the tax a few individuals have to pay, but it will NOT increase tax revenues to the treasury, and it will NOT improve the economy.


32 posted on 12/23/2012 7:47:01 PM PST by Son House (Romney Plan: Cap Spending At 20 Percent Of GDP.)
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To: Typical_Whitey

The country’s broke.


33 posted on 12/23/2012 7:48:44 PM PST by GOPJ (ItÂ’s not possible to be a Progressive and not be a hypocrite. Freeper TigersEye.)
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To: Typical_Whitey

Republican’s fault

Haven’t had a budget for 4 years but it’s going to be the Republican’s fault.

FUBO


34 posted on 12/23/2012 8:14:46 PM PST by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
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To: Typical_Whitey

Going back to Clinton’s tax rates would be a catastrophe? But but but...
his high taxes caused the 90s boom, and the evil Bush tax cuts caused a 12 year recession, according to progressive geniuses.


35 posted on 12/23/2012 8:14:52 PM PST by rfp1234 (Arguing with a liberal is like playing chess with a pigeon.)
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To: Typical_Whitey

Went over the cliff a long time ago, this is just another bump on the way down.


36 posted on 12/23/2012 8:18:32 PM PST by jwalsh07
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To: Wyatt's Torch

Nope. It’s not near that much.


37 posted on 12/23/2012 8:22:07 PM PST by WriteOn (Truth)
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To: Lancey Howard; Typical_Whitey
"Wow! That was a great YouTube right there! Thanks for posting the link. I like Maria Bartiromo."

Ditto. That was 7+ minutes of my life well spent. Thanks!

38 posted on 12/23/2012 8:51:50 PM PST by Flotsam_Jetsome ("Obama": His entire life is Photoshopped.)
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To: CdMGuy

>>Looking on the bright side, it does force real cuts in government spending, although they are across the board in which case Defense will take a big hit.

The rest of your post is a pretty good argument for that not being such a big deal.

Plus Obama won’t use the military to stop either N Korea or Iran from getting nukes, both of which could conceivably threaten the US mainline with them. For that matter, a GOP president probably wouldn’t either.

And these days it takes years of pissing around in the UN before possibly getting some kind of resolution that’ll offer cover to any country that wants to use it’s military - except perhaps Russia which is one of the few that seem to be actually ready, willing and able to advance its own agenda regardless of what the rest of the world thinks.


39 posted on 12/23/2012 9:35:23 PM PST by expat1000
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To: CdMGuy

mainline s/b mainland.


40 posted on 12/23/2012 9:36:47 PM PST by expat1000
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To: Obama_Is_Sabotaging_America
America has proven to be highly resilient in the face of 0’s wrecking ball.

Are you sure about this? The American people seem a confused and "low-information" lot to me.

41 posted on 12/23/2012 9:52:09 PM PST by Theodore R. ("Hey, the American people must all be crazy out there!")
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To: Crucial

The “low-information” American people may not know who Boehner and McConnell are now, but they will be blaming them next year. Boehner and McC are truly clueless: they are careerists first but could do the right thing, were they so inclined, and then just retire in the wake of adverse voter anger.


42 posted on 12/23/2012 9:55:52 PM PST by Theodore R. ("Hey, the American people must all be crazy out there!")
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To: Obama_Is_Sabotaging_America
Here is the leaked draft of the text of Obama's inauguration speech.
43 posted on 12/23/2012 9:58:51 PM PST by Flick Lives (We're going to be just like the old Soviet Union, but with free cell phones!)
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To: Typical_Whitey

“If we allow that to happen it will be the most colossal consequential act of congressional irresponsibility in a long time, maybe ever in American history,” Lieberman added.


Where does Lieberman get the foolish notion that congress has any say in this? The Dear Leader does everything by executive fiat. He don’t need no steenkin congress.


44 posted on 12/23/2012 10:00:47 PM PST by chessplayer
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To: Theodore R.

Businesses not ‘the masses’.


45 posted on 12/23/2012 10:02:06 PM PST by Obama_Is_Sabotaging_America (IMPEACH OBAMA)
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To: CdMGuy
"Then Bush Light puts us in Afghanistan supposedly to get Bin Laden."

Actually, I supported us going into Afganiscrap after 9/11/2001. The Taliban were enabling al-Queda. It's a fact. Our troops and operatives have pretty much devastated their abilities. However, Afganiscrap will never become a free enterprising nation because of their tribal conflicts. We will continue to lose young Americans if we stay there.

Although I and much of the World bought into the threat of WMD under Saddam Hussein and waged war on Iraq, that was a waste of our childrens' lives and limbs, also.

Now we have Libya, Egypt, Syria, Jordan, all the rest of the so-called "Arab Spring" to deal with. Muslims know nothing more than to kill all who are not Muslims, and if they can't, they kill each other. They hate the Western world, and just plain hate. It's like if Catholics were to war on Protestants. Uh, right, they have. I hate religions!

However, I will give the various Christian and Jewish denominations a pass nowadays since they eventually learned to live with each other under the umbrella of "liberty". Most (my belief) Muslims can't comprehend freedom nor opportunity. They are about their crappy religion/cult and are taught that sh*t from childhood (proven). I can't understand why Europe and now the USA accepts those cultists into Western society.

Oh yeah, we have to be PC and "feel" for others.

I have been saying this for years:
I am not a racist, but I am a culturalist (my own term). The color of skin is not what's important; the nature of those of certain cultures is.

I've been thinking what a great thesis for a college Master's could be about how different races have different cultures that are either beneficial to humankind or detrimental. Think about the difference between Islamist cultures and the Indians in the Amazon, or ANY western civilization.

The pagan Amazon tribes don't kill their women if they are raped, as far as I know. Yet, so many Islamists will lash or stone or hang or shoot their own women for some obscene sense of honor if they are raped or do something against the sensibilities of Muslim men. It's time someone who is more informed and articulate than me to write such a thesis.

Yes, I know, there are books out there, no one reads them. However, I would like to see the "backfire" from a student in a major Ivy university write such. The MSM would go ballistic, and open the conversation about cultural (not race) differences. That's a discussion we need.

46 posted on 12/23/2012 10:24:47 PM PST by A Navy Vet (An Oath is Forever.)
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To: Typical_Whitey

“If we allow that to happen it will be the most colossal consequential act of congressional irresponsibility in a long time, maybe ever in American history,” Lieberman added.

It is time for performance standards to be set for all of our elected “leaders”. No less than annual performace reviews conducted by a panel of constituents. No review, no pay or perks. Severe penalties and/or termination for less than acceptible.


47 posted on 12/24/2012 3:00:10 AM PST by Artie (We are surrounded by MORONS)
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To: Typical_Whitey

The beast demands to be fed.


48 posted on 12/24/2012 3:16:17 AM PST by SkyPilot
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To: Typical_Whitey

If the nation goes over the cliff, it is because that is what the two sides actually wanted.

The military cuts will total about 100 billion a year or just under 17% of the military budget. I believe Afghan and Iraq were off budget, but I’m not sure. I definitely believe that the military wastes 10% each year, but I’m not sure about 17%. I also understand they’ve been prevented from saving the money by cutting personnel, but I don’t know if I understood that correctly from an AUSA email I received last week.

The tax increase is the ending of the Bush tax cuts, so there will be an across-the-board tax increase for everyone.

So, there are real cuts and real increases, and each side gets to blame the other. Wonderful.

Wrong, though. We already were borrowing 1/3 of what we spent, so we have about 1.3 trillion each year to make up. I’m thinking that the tax increases amount to about 300-400 billion. With the military cuts, that gives the spendthrift parties about 400-500 billion. They are about 800 billion short of balancing the budget EACH YEAR.

And the new ObamaCare expense hasn’t kicked in yet.


49 posted on 12/24/2012 3:49:20 AM PST by xzins (Retired Army Chaplain and Proud of It! True supporters of our troops pray for their victory!)
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To: Typical_Whitey
I watched that video. It was actually heartening to see a "pissed off woman" give it back to Democrat Communist who has infiltrated our Senate.

We will all have to sit before the judgment seat of Christ. All of us. We will have to give an account for our lives. There are many things in my life I am not proud of, things I have done or should not have done. That is why I surrendered my life to Jesus Christ many years ago. I knew I was guilty, and doomed. But I am saved through Him.

The dreadful people who are now our earthly lords and masters (Reid, Obama, Cardin, etc) are going to have to sit before that judgment seat of Christ as well.

There will be justice, someday. I pray only that God intervenes and teaches them all a lesson here and now. I want to see these people humbled before God.

50 posted on 12/24/2012 4:15:59 AM PST by SkyPilot
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