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Wed Nov 14, 2012, 02:27 PM

 

Why the 'fiscal cliff' hype is baloney.

It's so cute to see all the serious people who are so worried about economic crises that do not exist. They are constantly telling us how the "job creators" (a.k.a. rich people) who run businesses are just so nervous and uncertain they don't know what to do. The current concern is that taxes could rise at the end of the year and government spending will fall.

Of course this would be bad news, but would it be a crisis? As many people have pointed out, this is called "deficit reduction," which is exactly what most of the people now complaining about an imminent crisis have been advocating. The tax increases and spending cuts would weaken the economy and, if left in place over the course of the year, would sharply slow growth and likely push the economy into a recession.

But none of this happens in January. In fact, almost nothing happens in January except the Bush tax cuts expire, substantially improving President Obama's bargaining position. This is bad news for Republicans, but so what...?

http://www.cepr.net/index.php/blogs/beat-the-press/david-brooks-is-worried-about-non-existent-economic-crises

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Reply Why the 'fiscal cliff' hype is baloney. (Original post)
HiPointDem Nov 2012 OP
Warpy Nov 2012 #1
BumRushDaShow Nov 2012 #2
HiPointDem Nov 2012 #3
a kennedy Nov 2012 #4

Response to HiPointDem (Original post)

Wed Nov 14, 2012, 02:31 PM

1. Republicans are freaking out because taxes are going up

and the fucking, wasteful Pentagon will be facing steep cuts.

As usual, they're DEAD WRONG, both things desperately need to happen in this country, although one hopes they'll listen to reason when it comes to softening the blow to the poorest workers.

Democrats have to play hardball on this, and target PSAs about Republican obstructionism to those districts that sent intransigent idiots back to Congress.

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Response to HiPointDem (Original post)

Wed Nov 14, 2012, 02:31 PM

2. The election is over and the 24/7 infotainment cabal

needs to fill air-time with some "controversy" so they can give their pundits something to talk about. This, like Y2K, the change in the DST effective dates, the various debt ceilings and expirations of continuing resolutions, and so on, offers them plenty of fodder and the ability to bring on the usual endless series of "guests" to pontificate.

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Response to HiPointDem (Original post)

Wed Nov 14, 2012, 08:55 PM

3. kick

 

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Response to HiPointDem (Original post)

Wed Nov 14, 2012, 09:21 PM

4. another kick for this one.....

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