This cannot be true.
Except tax hikes now will only reduce revenues so they will just further cripple what used to be America.
Gross Domestic Product / St. Louis Adjusted Monetary Base or Aggregate Monetary Velocity
The fiscal cliff is when interest rates rise and we spend all our money rolling over our debt.
This debt ceiling stuff is just a short pit stop on the way up the cliff.
The real debt limit isn’t our own restriction on how much we’re willing to borrow, but the lenders’ restriction on how much they’re willing to lend.
And we hit that several years ago.
Something more than 30% of our so-called debt isn’t really debt, because nobody’s willing to buy it. Instead, it’s manufactured from whole cloth, via “quantitative easing”.
In other words, it’s not debt, it’s inflation of the money supply. Printing money like it’s worthless paper.
And there isn’t all that much space between our printing money like it’s worthless paper and the rest of the world deciding it’s worthless paper. And when that happens, expect Weimar-style inflation.
In truth, I’m surprised it hasn’t happened already.
Just make sure it's tied to the Dems (yeah, fat chance, I know with stupid repubs in he house.)
Jeez. Just think of how many small businesses at 50k/pop that 16.4TT would have started!
But no, we had to pay for abortions and contraceptives, hundreds of billions in foreign aid, 2.5 billion on the worthless UN and on and on and on, not to mention a healthy lining of Dem Donor's pockets and so many Green boondoggles that it boggles the mind. Then there's fed salaries, a bloated bureaucracy, free healthcare for half of govt while we have to pay for ours, half of govt employees not paying incom taxes, Dems getting 200k/yr+ and yet stiffing the House Cafeteria for their meals, crooked stamps for campaign cash deals and again, on and on and on.
Reagan wisdom is for the ages. Government is not the solution, Government is the PROBLEM! The Nearest thing to immortality you're ever going to see is a federal tax.
Yeah, let it go over the cliff. Republicans have been screaming about this for decades and every single time the American people have treated it like a puppy that had just peed on the floor and gave it a smack on the nose with a newspaper.
Let er go.
No they don't. This is the first time anything they have done has addressed the deficit. We can live with reduced government spending.
I was highly amused to read an AP “fiscal cliff” story the other day. Their summation: it’s all the fault of the Republicans.
Lets see 1.2 trillion deficit, CBOsay eliminating tax cuts on rich results in 89 billion, fical cliff, please 1 trillion over 10 years is 100 billion per year outof what 3.4 trillion budget, if that is a cliff I have a bridge......, if and I mean if this happens our deficit goes down to 1 trillion, yup what a cliff. We are screw if we can’t cut 3% of our spending, lol
What is a fiscal cliff?.Obama in office note last four years.
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