HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Politics 2014 (Forum) » America’s not falling off...
Introducing Discussionist: A new forum by the creators of DU

Mon Nov 12, 2012, 11:00 AM

America’s not falling off a fiscal cliff


Don't let the headlines drive you crazy. The U.S. economy isn't headed for a double-dip recession

BY MATTEA KRAMER AND CHRIS HELLMAN, TOMDISPATCH.COM


They don’t call it the “cliff” for nothing. It’s the fiscal spot where a nation’s representatives can gather and cry doom. It’s the place — if Washington is to be believed — where, with a single leap into the Abyss of Sequestration, those representatives can end it all for the rest of us.

In the wake of President Obama’s electoral victory, that cliff (if you’ll excuse a mixed metaphor or two) is about to step front and center. The only problem: the odds are no one will leap, and remarkably little of note will actually happen. But since the headlines are about to scream “crisis,” what you need to understand American politics in the coming weeks of the lame-duck Congress is a little guide to reality, some Cliff Notes for Washington.

As a start, relax. Don’t let the headlines get to you. There’s little reason for anyone to lose sleep over the much-hyped fiscal cliff. In fact, if you were choosing an image based on the coming fiscal dust-up, it probably wouldn’t be a cliff but an obstacle course – a series of federal spending cuts and tax increases all scheduled to take effect as 2013 begins. And it’s true that, if all those budget cuts and tax increases were to go into effect at the same time, an already weak recovery would probably sink into a double-dip recession.

But ignore the sound and fury. While prophecy is usually a perilous occupation, in this case it’s pretty easy to predict how lawmakers will deal with nearly every challenge on the president’s and Congress’s end-of-year obstacle course. The upshot? The U.S. economy isn’t headed over a cliff any time soon.

read more:
http://www.salon.com/2012/11/12/americas_not_falling_off_a_fiscal_cliff/

5 replies, 677 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 5 replies Author Time Post
Reply America’s not falling off a fiscal cliff (Original post)
DonViejo Nov 2012 OP
thelordofhell Nov 2012 #1
LisaL Nov 2012 #2
tama Nov 2012 #3
ProudProgressiveNow Nov 2012 #4
customerserviceguy Nov 2012 #5

Response to DonViejo (Original post)

Mon Nov 12, 2012, 11:09 AM

1. Here's how I look at the "cliff"-----doing nothing, means not jumping

If something is done, like say, keeping the Bush tax cuts for the rich.......then you have jumped.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to thelordofhell (Reply #1)

Mon Nov 12, 2012, 11:18 AM

2. The article claims that US won't go over fiscal cliff because something will be done about it

by congress. No that actually going over the cliff will be fine.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Mon Nov 12, 2012, 12:09 PM

3. I looked

 

And the whole "fiscal cliff" meme is just Bernanke fantasy la-la-la-land issue.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to tama (Reply #3)

Mon Nov 12, 2012, 01:15 PM

4. +1 nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to DonViejo (Original post)

Mon Nov 12, 2012, 01:18 PM

5. There's a powerful assumption

that the very people who got us to this point will suddenly decide to do something different. That's a leap of faith that I wouldn't make.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread