Breaking the Deadlock

iVillage Member
Registered: 03-18-2000
Breaking the Deadlock
18
Thu, 11-01-2012 - 9:35am

Whether Barack Obama or Mitt Romney wins the election on Tuesday, on Wednesday he will face the same urgent challenge: how to stop the U.S. from falling off the fiscal cliff. But let's hope he also takes on the larger challenge of fixing a political system that has brought us close to disaster twice in two years.

Unless Congress acts, the spending cuts and tax increases that would be triggered automatically next January would take 5.1% out of the country's GDP in one year, according to the Congressional Budget Office. That would be one of the most severe experiments with austerity in history--larger than anything Greece, Spain, Italy or the U.K. has tried. In fact, it is almost three times the size of Britain's program. And the results of those European austerity policies have thus far been a dramatic slowdown in economic growth and a sharp spike in unemployment. Virtually every economist who has studied this believes that similar measures, even if enacted for a few months, could push the U.S. into a double-dip recession.

More see link.......
http://www.time.com/time/magazine/article/0,9171,2128309-1,00.html

 


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Community Leader
Registered: 01-25-2010
Thu, 11-01-2012 - 4:17pm

 Both parties know this.  No matter who gets elected it will be a fight.  Congress is a mess and the GOP is the party that forced this stupid rule.  The Democrats need to do what the GOP did and purge there ranks too.  What I see happening is that the GOP will want to keep the tax breaks in place and gut the safety net.  I myself see that as the most likely out come however I am for doing nothing let those tax breaks expire Then see what happens as the political infighting is to force a failed economic system on all of us.  The military is full of waste.  But the GOP does not want to touch it.  Actually the safety net needs expansion as more people who are not billionaires will do the suffering.

Goldfish

iVillage Member
Registered: 10-17-2012
Fri, 11-02-2012 - 2:55am

If Obama wins, based on his comments and entrenched ideology, we'll probably go over the fiscal cliff.  If Romney wins...or perhaps better put, WHEN Romney wins...the "Bush Tax Cuts" will be made permanent and and a "sequester band-aid" will hold off the tide until the new Congress convenes.  Unless you're looking for an unprecedented increase in your taxes come Jan 1, vote Romney.

iVillage Member
Registered: 10-17-2012
Fri, 11-02-2012 - 3:07am

No, actually it was Obama that suggested the sequester.  And considering moderate Democrats and Republicans gaining seats in the election, there probably won't be much of a fight at all.

Btw, it was Obama that gutted Medicare of $750B, not the Republicans.  Romney promises to reinstate that money.

And if we go over the "fiscal cliff," as you have said you desire, it will push the country back into a deep recession, with unemployment rocketing to 12% and losing an additional 6 million jobs through 2014.  This will obviously increase out debt exponentially, destroy economic growth, increase the prices for everything and drive us ever closer to a Greece-like tragedy.  If you think non-Billionaires are suffering now...vote Obama...and just wait.

iVillage Member
Registered: 03-30-2007
Fri, 11-02-2012 - 1:32pm

So...I'm guessing the "Trickle-Down Economics" ISN'T working.     Hasn't for the last 10 years.  

We need Obama ...get rid of the tea-party and Republican Congress.

 

iVillage Member
Registered: 10-17-2012
Fri, 11-02-2012 - 4:52pm

Of course trickle-down economics works.  Or do you imagine that everyone in the country owns their own business and is independently wealthy?

iVillage Member
Registered: 03-30-2007
Fri, 11-02-2012 - 6:29pm

The only trickle daown theroy that works is for the very rich.   Those in the middle and at the bottom haven't got a drop.    The rich are getting richer. 

There will be tax increases.   No matter who wins.    Romney's math doesn't work.     He isn't going to tax the rich.  Said he won't raise taxes on the middle class.  So how is the debt going to be paid down?     Fuzzy math back?  

I'd bet he has Ocean front property in Arizona.   

iVillage Member
Registered: 10-17-2012
Fri, 11-02-2012 - 10:32pm

You know a lot of poor people who are creating jobs?  Neither do I.  Who is it that pays to fix the roads, hire the police and firemen and pay school teachers and fund schools?  Who funds the food stamps and welfare checks that so many millions depend on?  Is it "rich people" or "poor people" that drive the economy?  Trickle down?  Hell, it's a downpour.

And there's only one candidate who says he won't raise taxes...and it isn't Obama.  Romney knows that lowering taxes leads to economic growth.  And if you're worried about the debt, then you should vote for Romney...every budget and every policy put forth by Obama has included HUGE increases in spending and do nothing to address the debt.  Obama's selling exactly the same lies in 2012 as he did in 2008, and you only have to look around to see how successful it's been.  Fool me once...

iVillage Member
Registered: 03-30-2007
Sat, 11-03-2012 - 8:23am

I know many peole that help the economy.   Yes, I know a lot of poor people that create a small business.   They babysit for people that work.   They do "Back Yard Mechanic's"   They are landscapers.    The list goes on.

Romney will raise taxes IF elected.    He just won't tell ya what his plan is until after he's elected.   In my part of the country, that's called  "Buying a pig in a poke".   

So happy I've already voted.   Obama/Biden  Four More Years!!

iVillage Member
Registered: 10-17-2012
Sat, 11-03-2012 - 3:49pm

Babysitting and lawn mowing?  If that's what you call a "small business" then my daughter and the 14 year old boy who mowes lawns must be CEOs. So no, generally speaking, poor people don't create small businesses and poor people don't create jobs.  They also don't pay income taxes...but they do derive the same benefits of those who do, and they get jobs that other people have created, and get the food stamps, entitlements and welfare that other people pay for, so something substantial must be "trickling" down.

And the "Romney just won't tell ya what his plan is until after he's elected" thing...kind of laughable.  Well, Obama is going to raise your taxes (already has, actually), and he's going to cut your medicare (already has actually), he's going to establish a death panel that will decide if you're "worthy" of getting certain medical treatment, he's going to increase your power bills (already has, actually), he's going to hamper oil production to keep gas prices high (already has, actually), he's going to make secret deals with Russia to disarm the US and he's going to let Iran get the bomb, which will start an arms race in the MIddle East, ending up with a war with Israel, and a dirty bomb going off in a US city...so congratulations, you didn't buy a "pig in a poke"...you just "shot yourself in the foot."  Romney/Ryan 2012!

iVillage Member
Registered: 03-30-2007
Sat, 11-03-2012 - 6:51pm

Wow!   Sounds like a spoon fed  "Rush-Baby", Beck, Savage, Faux sheeple.   Sprinkled with Romney's 47% garbage.  

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