Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

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
Navigation: use the links below to view more comments.
first previous 1-2021-4041-58 next last
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
[ Post Reply | Private Reply | To 1 | View Replies]

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.)
[ Post Reply | Private Reply | To 1 | View Replies]

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")
[ Post Reply | Private Reply | To 22 | View Replies]

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
[ Post Reply | Private Reply | To 19 | View Replies]

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")
[ Post Reply | Private Reply | To 1 | View Replies]

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.)
[ Post Reply | Private Reply | To 18 | View Replies]

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)
[ Post Reply | Private Reply | To 1 | View Replies]

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)
[ Post Reply | Private Reply | To 4 | View Replies]

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 luvie (All my heroes wear camos!)
[ Post Reply | Private Reply | To 1 | View Replies]

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
[ Post Reply | Private Reply | To 21 | View Replies]

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
[ Post Reply | Private Reply | To 12 | View Replies]

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.)
[ Post Reply | Private Reply | To 1 | View Replies]

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.)
[ Post Reply | Private Reply | To 1 | View Replies]

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.)
[ Post Reply | Private Reply | To 1 | View Replies]

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.)
[ Post Reply | Private Reply | To 1 | View Replies]

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
[ Post Reply | Private Reply | To 1 | View Replies]

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)
[ Post Reply | Private Reply | To 22 | View Replies]

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.)
[ Post Reply | Private Reply | To 24 | View Replies]

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
[ Post Reply | Private Reply | To 12 | View Replies]

To: CdMGuy

mainline s/b mainland.


40 posted on 12/23/2012 9:36:47 PM PST by expat1000
[ Post Reply | Private Reply | To 12 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-58 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson