Fiscal Cliff

[gynn]

Someone talk me through the reasons why the 'fiscal cliff' has arisen.

I know its because taxes will rise and public expenditure will fall on January 1st.

Why does Obama have to 'cut short a holiday in Hawaii' to sort it out? Was he hoping it would sort itself out before he flew to Hawaii. It was only a few days ago, for God's sake.

There was an election in the US a month ago, which gave Obama authority to act as a leader.

If he can't act as a leader, what does that say about the US Constitution? The Republican leaders standing in his way should be shot.....oops sorry. touchy subject!

I've said it before, and I'll say it again.

God Help America!

[MargaretR]

This link

What is the Fiscal Cliff?

indicates that congress can't agree on which of three options should be taken.

Obama could declare martial law and do what he wants, ignoring congress.

That would trigger a revolution - now wouldn't that be interesting to watch

[Margaret Pilkington]

Yes, it might give people this side of the pond some ideas too.

[Eric]

It's the Republicans ... that would be two goose steps to the right of Margaret Thatcher ... who are playing politics with the economy. The GOP controls the House of Representatives, although they seem to be, to a significant degree, in some disarray. There are some Republicans, old style Reaganites and (George Herbert) Bu****es, who are more patriotic than they are doctrinaire who just want to get this sorted out, and get on with an economic recovery (around 2% annual growth predicted), and keep going with the relatively positive job creation numbers The one positive thing I can see in this is that Americans ... the majority of them anyway ... can see that most of the feces about to hit the swiftly spinning object is being thrown by Republicans. Obama and the DOP will, in the long run, benefit from extreme Republican intransigence. Here's a link that gives, in general, a Canadian take on what is happening:

Neil Macdonald: Fiscal showdown at the U.S. Congress - World - CBC News

However, don't forget the biggest threat to the world's economy is the mess in Europe.

[Eric]

Originally Posted by Eric

It's the Republicans ... that would be two goose steps to the right of Margaret Thatcher ... who are playing politics with the economy. The GOP controls the House of Representatives, although they seem to be, to a significant degree, in some disarray. There are some Republicans, old style Reaganites and (George Herbert) Bu****es, who are more patriotic than they are doctrinaire who just want to get this sorted out, and get on with an economic recovery (around 2% annual growth predicted), and keep going with the relatively positive job creation numbers The one positive thing I can see in this is that Americans ... the majority of them anyway ... can see that most of the feces about to hit the swiftly spinning object is being thrown by Republicans. Obama and the DOP will, in the long run, benefit from extreme Republican intransigence. Here's a link that gives, in general, a Canadian take on what is happening:

Neil Macdonald: Fiscal showdown at the U.S. Congress - World - CBC News

However, don't forget the biggest threat to the world's economy is the mess in Europe.

Can't believe what got bleeped out ... I'll try it again "Bush - ites"

[Margaret Pilkington]

It all sounds a bit 'High Noon' -ish....seeing who will blink first.

[Eric]

Originally Posted by Margaret Pilkington

It all sounds a bit 'High Noon' -ish....seeing who will blink first.

That would give a stereotypically American twist to the situation ... but the metaphor doesn't really work. Democrats are in a "win - win" position here. If the US goes over the edge, Republicans get the blame. If they avoid the mess, Obama and the "reasonable-seeming" Democrats will get the credit. What is at stake is the future of the Republican Party as we know it. Republicans know this.

Same thing is going on with European economies, admittedly without the Hollywoodesque drama that the yanks do so well. Cut government spending; spare the rich so that they can generate jobs and wealth; that sort of stuff. Osborne would make a good Republican Difference is that the problems in Europe are real; the ones in the States are, ... well, as one Senator observed: "There's so much manure that there has to be a pony around somewhere."

[cmonstanley]

how come in america cuts mean recession,in britain cuts mean

[Margaret Pilkington]

Eric....I can see the pony...except it isn't a pony, it is a bull

[Guinness]

Originally Posted by cmonstanley

how come in america cuts mean recession,in britain cuts mean

Ooooo.. a quiz....my guess is..

Cuts mean Heinz?

If there were a fiscal cliff in Britain, I'd volunteer to push you off it

[Margaret Pilkington]

I would help you find a tall enough cliff.(with rocks at the bottom)

[cashman]

Fiscal Cliff is another "Buzz" word, its all balls fer being hard up.

[Margaret Pilkington]

sounds better than 'boracic lint' though.

[Eric]

Originally Posted by cmonstanley

how come in america cuts mean recession,in britain cuts mean

It's a point worth noting that the US did not "cut' their way out of the last recession. During the recent presidential campaign, Vice-President Biden observed, "Bin Laden is dead; General Motors isn't''. Not only that, the US embarked on a vigorous campaign to "Buy American" ... there were other measures too that coerced governments at all levels to use American goods in public works projects.

[Eric]

Originally Posted by Margaret Pilkington

Eric....I can see the pony...except it isn't a pony, it is a bull

Ponies are cuter

But the important point still is that the the US doesn't have an economic problem in the way that Europe does; they have a political problem. And that problem was created by Republicans to discredit, or undermine the Obama administration. Many, maybe most, Americans can see this. The only ones who can't are very rich or very thick ... and then there are the ones who sleep with their sisters, eat mayonaise sandwiches, think that there are only two kinds of music: country, and western, and those whose knowledge of their own constitution is limited to "the right to bear arms."