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Sun Dec 9, 2012, 11:30 PM

 

You know I never heard the phrase "Fiscal Cliff" until after Obama won the election.

And now newscasters are using the phrase as if it is a real and confirmed thing without ever investigating what in the hell it is.

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Reply You know I never heard the phrase "Fiscal Cliff" until after Obama won the election. (Original post)
Whovian Dec 2012 OP
peace13 Dec 2012 #1
Chorophyll Dec 2012 #2
doc03 Dec 2012 #3
sabrina 1 Dec 2012 #4
Cracklin Charlie Dec 2012 #5
sabrina 1 Dec 2012 #13
nadinbrzezinski Dec 2012 #10
Yo_Mama Dec 2012 #6
LeftInTX Dec 2012 #7
LeftInTX Dec 2012 #8
nadinbrzezinski Dec 2012 #9
frazzled Dec 2012 #11
bluestate10 Dec 2012 #12

Response to Whovian (Original post)

Sun Dec 9, 2012, 11:32 PM

1. Same here!

Where we're we? Kinda nice to not know about the next manufactured trauma!

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Response to Whovian (Original post)

Sun Dec 9, 2012, 11:36 PM

2. Yep. Had to keep the nonstop media juggernaut going.

Exhausting, right?

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Response to Whovian (Original post)

Sun Dec 9, 2012, 11:40 PM

3. I heard them talk about it some on MSNBC. I never heard anyone really that concerned

about the deficit other than Ross Perot until Obama was elected. Dick Cheney said deficits don't matter.

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Response to Whovian (Original post)

Sun Dec 9, 2012, 11:46 PM

4. A DUer named it The Fiscal Bluff which I thought was brilliant. Wish I could

remember his/her name so I could properly credit them. The MSM are just 'stenographers' as Steven Colbert said. They don't question anything.

Scary words

We are supposed to be afraid which is supposed to get us to just along with whatever they do.

The politics of fear. It isn't working. I hope they know that. Not that they care.

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Response to sabrina 1 (Reply #4)

Mon Dec 10, 2012, 12:05 AM

5. The Fiscal Bluff is the perfect name.

This is exactly right. They want everyone in a state of perpetual fear.

Unfortunately, I think we're stuck with it, as they don't seem to have any other strategy.

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Response to Cracklin Charlie (Reply #5)

Mon Dec 10, 2012, 12:43 AM

13. I think the DUer was grahamhgreen, btw.

I hope you are wrong and that they do use the mandate given to them by the people to stop this assault on the Social Safety Net.

But like everyone else, I don't have much confidence at this point. It would be great to be pleasantly surprised.

Can you imagine the support Democrats would have across the board if they just came out, like Bernie Sanders does, all over the media, and announced that they will NOT allow anyone to take money from the most vulnerable citizens, that they will never bargain with SS, Medicare or Medicaid as that is literally bargaining with people's lives. And if they exposed the dirty tricks and fear mongering used to try to fool the people?

I think they would be guaranteed to win the next several elections if they did that.

Oh yes, and if the stated that they will NOT make the American people 'share the sacrifice' to repay the debts of those who crashed the economy since they did not 'share the ill-gotten profits' and in no way are responsible for the deficit created by those who borrowed to give tax breaks to the wealthy and for wars that never needed to be fought?

I can hear the cheering across the world if Dems would have the courage to do that.

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Response to sabrina 1 (Reply #4)

Mon Dec 10, 2012, 12:26 AM

10. Lawrence O'Donnel has been calling it a fiscal curb

For months now.

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Response to Whovian (Original post)

Mon Dec 10, 2012, 12:09 AM

6. Bernanke started talking about it back in February

You know, Bernanke, the head of our central bank? FRB has been dwelling on this over the year and in statements to Congress.
http://www.heraldextra.com/news/national/govt-and-politics/bernanke-s-cliff-analogy-overstates-immediate-harm-to-economy/article_db5f6a31-f84d-5270-8410-371d9c9b566e.html

It's not made up - it's the combination of the expiration of a bunch of tax breaks and the deal worked out as the result of the last debt ceiling increase.

CBO (Congressional Budget Office) has been writing about it:
http://www.cbo.gov/publication/43694
According to CBO’s projections, if all of that fiscal tightening occurs, real (inflation-adjusted) gross domestic product (GDP) will drop by 0.5 percent in 2013 (as measured by the change from the fourth quarter of 2012 to the fourth quarter of 2013)—reflecting a decline in the first half of the year and renewed growth at a modest pace later in the year. That contraction of the economy will cause employment to decline and the unemployment rate to rise to 9.1 percent in the fourth quarter of 2013.



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Response to Whovian (Original post)

Mon Dec 10, 2012, 12:12 AM

7. Read in Foreign Policy's Blog:

How to explain the fiscal cliff to non-Americans
http://prestowitz.foreignpolicy.com/posts/2012/12/07/how_to_explain_the_fiscal_cliff_to_non_americans

*********************************************************

Yes there is actually an article on how to explain this to the rest of the world.

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Response to Whovian (Original post)

Mon Dec 10, 2012, 12:15 AM

8. I remember the Super-Committee last year

I think they were supposed to resolve something but they didn't. So we have this

From Nov 21, 2011:
http://theweek.com/article/index/221684/the-super-committees-epic-failure-what-now

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Response to Whovian (Original post)

Mon Dec 10, 2012, 12:25 AM

9. They started two months before in a serious manner

And yes, fiscal cliff was the word used earlier in the year.

I guess since I cover this shit I pay more attention.

For the record, it's a curb.

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Response to Whovian (Original post)

Mon Dec 10, 2012, 12:32 AM

11. I've been reading about it for over a year

Ever since the Budget Control Act of 2011. Remember that? It's when the Republicans were holding the debt ceiling hostage, causing the country's credit rating to be downgraded. The deal finally reached included letting the Bush tax cuts expire on January 1, 2013, at which time large cuts to the Defense Dept. and other programs would automatically go into effect if no other deficit deal was reached, though programs like Social Security, Medicaid, military pay and veterans' benefits were exempted from any cuts. The Republicans agreed to it, and now they're screaming bloody murder and wanting it all undone.

For the past year, if you read blogs like Wonkbook, you've heard a lot about what would happen if those automatic, austerity-type cuts went into effect. It's been called the fiscal cliff, but lately people are objecting to that term.

At any rate, this is not a new discussion, though most of the media has probably been ignoring it. Nobody wanted to talk about it during the election, on either side of the aisle. But everyone knew it was coming down the road.

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Response to Whovian (Original post)

Mon Dec 10, 2012, 12:36 AM

12. The term has been used regularly for the last year. I think we should go over the cliff rather than

give an inch to republican demands. The rich has been gaining ground for the last 30+ years, it is time for them to give back, or at least stop taking.

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