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| Economy |
| Fiscal Cliff: 54 Days Until $7 Trillion Tax Hike |
| 2012-11-10 |
| In 54 days, $7 trillion in tax hikes and spending cuts over the next decade will automatically go into effect. If America goes over this "fiscal cliff," experts say the already rickety U.S. economy could implode. To avert the economic calamity, on Wednesday Speaker John Boehner offered President Barack Obama a "bridge" to help the nation safely cross the fiscal cliff. "Mr. President, this is your moment. We're ready to be led--not as Democrats or Republicans, but as Americans," said Mr. Boehner. "We want you to lead, not as a liberal or a conservative, but as president of the United States of America." Mr. Boehner said he sought "common ground" with Mr. Obama and was open to "new revenues.": "In order to garner Republican support for new revenues, the president must be willing to reduce spending and shore up the entitlement programs that are the primary drivers of our debt." |
| Posted by:Au Auric |
| #7 Wild Guess on deal: cut defense and raise taxes for the next 4 years and all proposed 'cuts' start in 2017. Note: obama is in Asia requesting a credit line increase from the chinese credit card company. |
| Posted by: Airandee 2012-11-10 15:37 |
| #6 Washington (and the country) always seems to do better when its on recess or Champ is on vacation. That ought to tell us something. |
| Posted by: JohnQC 2012-11-10 07:40 |
| #5 Why does Obama have any motivation to reach a compromise? |
| Posted by: Nimble Spemble 2012-11-10 07:18 |
| #4 Mr. President there is message from some one called Keyser Söze in the secured mail. It says you cost him money and he want's it back with interest. |
| Posted by: Vortigern Hupoluse1541 2012-11-10 02:41 |
| #3 I doubt much will be accomplished prior to the holiday recess. They have so little time remaining. Obama has nothing to gain from compromise. I fully expect the clock to run out and both parties will blame each another. Investment income from the boomers is the target, and they will get it through increased taxes and indirect taxes (gov't insurance schemes). |
| Posted by: Besoeker 2012-11-10 02:07 |
| #2 I doubt Boehner means increase or expand. But taking the long view, I think that is exactly what Republicans should encourage. Not to rock the boat: but to sink it. Give people what they voted for, good and hard. Don't just compromise; grant Dems' every wish and stand aside, to Make. Them. Own. It. To stave off a repeat of this plague for a good long time. Whoever is in charge when the music stops will be radioactive forever - a far better time to be spectators than participants. |
| Posted by: RandomJD 2012-11-10 00:46 |
| #1 "Shore up" > Yokay, I'll bite, is Boehner saying the Bammer needs to increase or expand the entitlement spending "that are the primary drivers of our debt"??? |
| Posted by: JosephMendiola 2012-11-10 00:25 |