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Sun Nov 11, 2012, 08:17 AM

CEOs optimistic Washington will reach consensus on the fiscal cliff

CEOs from JPMorgan (JPM), Aetna (AET), Disney (DIS), Qualcomm (QCOM), United Continental (UAL) and AT&T (NYSE:T) have been calling on Washington to put the rancor aside and start working immediately to avoid sending the economy over the fiscal cliff, which is when tax increases and spending cuts go into effect at the end of the year.

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The CEOs of JPMorgan and AT&T, as well as economist Larry Summers, also expect that dealing with the country's fiscal problem can re-ignite economic growth. Housing is recovering and businesses remain strong, JPMorgan CEO Jamie Dimon said. "If we solve the short-term fiscal cliff and the longer-run fiscal issues, the economy can boom."

AT&T CEO Randall Stephenson said "If we could get this fiscal situation addressed, get a tax code that is more modern and competitive with the rest of the world, I think that with what's happening with energy in this country and what people are prepared to invest in technology, I think we ride a wave in this country for three or four years that's going to be very exciting," he said.

CEOs are optimistic that Washington will find a way to reach a consensus. As United Continental CEO Jeff Smisek said, "They don't really have a lot of choice, do they?"

http://finance.yahoo.com/news/economy-boom-washington-fixes-cliff-165431323.html

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This is why I think a deal will be reached. These CEO dudes are key consituents of the GOP. Making more $Billions is a huge incentive to overcoming their political aversions to working with the President. However, I suspect the most likely outcome is short-term deal just to avoid the "cliff" and then kicking the can down the road on the bigger longer term issues.

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Reply CEOs optimistic Washington will reach consensus on the fiscal cliff (Original post)
DCBob Nov 2012 OP
Rain Mcloud Nov 2012 #1
DCBob Nov 2012 #2
woo me with science Nov 2012 #3
DCBob Nov 2012 #4
woo me with science Nov 2012 #5
DCBob Nov 2012 #6
PETRUS Nov 2012 #7
woo me with science Nov 2012 #8

Response to DCBob (Original post)

Sun Nov 11, 2012, 08:37 AM

1. What the CEOs want

 

> "If we could get this fiscal situation addressed, get a tax code that is more modern and competitive with the rest of the world"<

They want Austerity for the people and the golden carpet for themselves.
I have a question though for these idiots:
When the world workforce is working for .85 an hour then who is going to buy your bullshit?
Where are the customers going to come from to fuel this mighty engine of economic growth?
The world does not revolve around you morons,your money comes from customers who's buying power is tied to their income and credit scores.
Get over yourself!

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Response to Rain Mcloud (Reply #1)

Sun Nov 11, 2012, 08:40 AM

2. No doubt, obscene profits are a huge motivator for this bunch.

Sounds like they are worried if no deal is made their golden goose is cooked.

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Response to DCBob (Original post)

Sun Nov 11, 2012, 08:44 AM

3. Of course a deal will be reached.

More fucking austerity for the masses. This is not just about Social Security and Medicare. It is about the fact that our government works for the elite, in both parties, and a little tax increase on the rich is not enough. Instead of growing the economy, politicians in both parties will adopt more economy-starving budget cuts, against the clear will of voters and against all economic sense save that of the looters at the top. Just peachy.

We should have millions massing in Washington right now to demand that the looting of the poor and the middle class be reversed.

Instead, we will continue to see wealth pour to the one percent, and the poor will be squeezed even further.

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Response to woo me with science (Reply #3)

Sun Nov 11, 2012, 09:02 AM

4. I think this deal may not be all one-sided.

The problem the President faces is that there is fine line between fighting for the masses and crashing the economy.

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Response to DCBob (Reply #4)

Sun Nov 11, 2012, 09:35 AM

5. Austerity *slows* economies.

Good god, look at Europe. The "fiscal cliff" argument is bullshit. As literally hundreds of economists have been telling the President since he took office, austerity is exactly the wrong direction to go.




Voters Didn't Ask for Bi-Partisanship, They Demanded Good Policies
http://www.democraticunderground.com/10021789621

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Response to woo me with science (Reply #5)

Sun Nov 11, 2012, 09:44 AM

6. They are finally starting to realize this in Europe.

Austerity is killing any chance of recovery over there. Lets hope we dont make that same mistake here.

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Response to DCBob (Original post)

Sun Nov 11, 2012, 09:51 AM

7. These CEOs should be shouted down by a large chorus of citizens

Their unhealthy obsession with the debt/deficit is a distraction from real and pressing issues. They are either seriously wrong about what constitutes good economic policy, or they do know better but they are willing to do injury to millions of people in order to advance their own selfish interests. Either way, this gang is a problem.

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Response to PETRUS (Reply #7)

Sun Nov 11, 2012, 09:56 AM

8. We should be massing in Washington. nt

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