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In reply to the discussion: Merry 'Cliffmas': Obama, Boehner Deal Dims [View all]Yo_Mama
(8,303 posts)40. Yes, but if we go over the cliff it is imposing an austerity measure
There's no doubt that we will collapse into a pretty sharp recession.
The average low to mid-income family just cannot find the money to pay those increases without imposing personal austerity (and in some cases, defaulting on loans), and so the economy will tank.
You have to pay attention to the details!
Please read what CBO had to say about it:
http://www.cbo.gov/publication/43694
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And are you saying, combined 50K NET, as in the actual amount, after all deductions,
SoapBox
Dec 2012
#35
Yes that is correct but taxes will go up on everyone not just the rich....
humbled_opinion
Dec 2012
#45
My God! The bias of ABC! "Increasingly grim" indeed! The old deal is the best deal for Americans!
grahamhgreen
Dec 2012
#5
And what do you think will happen if you instead impose the austerity on seniors?
JDPriestly
Dec 2012
#58