The "Fiscal Cliff" will punch America in the crotch on Jan 1, 2013
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09-11-2012, 10:57 PM
The "Fiscal Cliff" will punch America in the crotch on Jan 1, 2013
[This was another of my FB posts... once again, I'm not yelling at you.]

On Jan 1st 2013, America will hit what is known as the "Fiscal Cliff." This is where the Bush tax cuts that were subsequently extended by Obama end and a bunch of new laws (Baseline laws) will be implemented that raise taxes and cut spending. This will hit America in the genitals and likely cause another recession. Why are we doing this? Because we are projected to hit the debt ceiling before 2012 is even over. We have no money and our credit has run out. This country has been run like a teenage girl with her daddy's credit card for too long and finally, the card has reached its limit.

The bad:
-Unemployment will likely raise by 1-2%
-GDP will suffer.
-Economy will be negatively impacted for about first 3 months.

The good:
-The national debt will be lowered 600 billion in the first year and is projected to be halved in 10 years.
-This will establish a practical tax-to-spending ratio that will make it so America isn't hemorrhaging money every year. We will finally be self-sustaining.
-Social Security, pensions, and Veteran's benefits will be exempt from the spending cuts.

This has to be done, but it won't stop the red-staters from immediately blaming Obama. "See what you get by re-electing him?" Repubs seem to share the economic strategy of the underwear gnomes.

Step 1: Increase taxes and maintain current spending
Step 2: ???
Step 3: Profit

The Tax Relief Act, Budget Control Act, and Job Creation acts have all simply postponed the inevitable. Now the debt ceiling is upon us and we have to change. Actual patriotic Americans would sacrifice for their dying country, not bitch about inconveniences while offering nothing constructive of their own.

http://upload.wikimedia.org/wikipedia/en...raphic.png

http://en.wikipedia.org/wiki/United_States_fiscal_cliff

http://bonds.about.com/od/Issues-in-the-...-Cliff.htm


If I'm wrong, inform me. If you have a solution, share it.

"Ain't got no last words to say, yellow streak right up my spine. The gun in my mouth was real and the taste blew my mind."

"We see you cry. We turn your head. Then we slap your face. We see you try. We see you fail. Some things never change."
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09-11-2012, 11:11 PM
RE: The "Fiscal Cliff" will punch America in the crotch on Jan 1, 2013
Since taxes go up for everyone if the "cliff" scenario happens, they will, at the very least, pass some sort of continuing resolution, and either have part completed by 1/1/13, or the whole thing addressed. IMO.
I would say, IMHO, but "being "insufferable" does not permit that. Tongue

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Yeah, for verily I say unto thee, and this we know : Jebus no likey that which doth tickle thee unto thy nether regions.

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09-11-2012, 11:14 PM
RE: The "Fiscal Cliff" will punch America in the crotch on Jan 1, 2013
Yeah fuck it, me and mine are wearing cod pieces.

I am us and we is me. ... bitches.
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09-11-2012, 11:41 PM
RE: The "Fiscal Cliff" will punch America in the crotch on Jan 1, 2013
Yeah, well, good luck guys!

Meanwhile...

What shall I do this weekend?

Consider


Maybe get myself a manicure and a pedicure, oh yes, a haircut and maybe a waxing?

I think I will see the Bond movie tomorrow and then go for dinner at an expensive restaurant. Perhaps I will do a little shopping and add to my Armani collection in the morning... I've worn this suit at least twice.

I must remember to get more keys cut for the new girls arriving next week. I hope they are as cute and compliant as the last batch.

So many things to do, why is life so difficult?

Drinking Beverage

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09-11-2012, 11:46 PM
RE: The "Fiscal Cliff" will punch America in the crotch on Jan 1, 2013
It's pretty much a no-brainer that spending needs to be reduced and revenue increased.

I like the metaphor about a teenage girl with Daddies credit card. I think that fits to a lot of countries these days.
Hopefully countries will feel the harsh effects of borrowing borrowing and more borrowing and realize that even a countries government needs to have good fiscal... whatever the word is.

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09-11-2012, 11:48 PM
RE: The "Fiscal Cliff" will punch America in the crotch on Jan 1, 2013
(09-11-2012 11:41 PM)DLJ Wrote:  Yeah, well, good luck guys!

Meanwhile...

What shall I do this weekend?

Consider


Maybe get myself a manicure and a pedicure, oh yes, a haircut and maybe a waxing?

I think I will see the Bond movie tomorrow and then go for dinner at an expensive restaurant. Perhaps I will do a little shopping and add to my Armani collection in the morning... I've worn this suit at least twice.

I must remember to get more keys cut for the new girls arriving next week. I hope they are as cute and compliant as the last batch.

So many things to do, why is life so difficult?

Drinking Beverage


I think I'll go chew some gum tomorrow.
Would you like a stick of gum DLJ? Oh wait... Tongue

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10-11-2012, 12:06 AM
RE: The "Fiscal Cliff" will punch America in the crotch on Jan 1, 2013
(09-11-2012 11:48 PM)earmuffs Wrote:  I think I'll go chew some gum tomorrow.
Would you like a stick of gum DLJ? Oh wait... Tongue

Let's weigh that one, shall we?

Cost of gum;
cost of cleaners (salaries, solvents etc.) to remove those nasty black circles from the side-walk/pavement;
inconvenience of having to clean unhygienic goo from bottom of shoe.

Vs.

Less tax because of increased revenue from tourists who enjoy a clean city;
inconvenience of not being able to indulge in something I have never done anyway;
import revenue (for selling over-priced, black-market gum to friends who don't travel as much as I do).

Consider That's a tough one.

Next?

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10-11-2012, 12:15 AM
RE: The "Fiscal Cliff" will punch America in the crotch on Jan 1, 2013
[Image: sad-obama.jpg]

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10-11-2012, 09:19 AM
RE: The "Fiscal Cliff" will punch America in the crotch on Jan 1, 2013
Considering that the end of the world as we know it occurs December 21, why are you fucking worrying about this? Angry

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10-11-2012, 09:48 AM
RE: The "Fiscal Cliff" will punch America in the crotch on Jan 1, 2013
(10-11-2012 09:19 AM)Chas Wrote:  Considering that the end of the world as we know it occurs December 21, why are you fucking worrying about this? Angry
Why is it always the end of the world as we know it? For once, why can't it be the end of the world as we don't know it? Dodgy

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