Fiscal Cliff..

Armistead · 12-22-12, 10:02 AM

I thought they would work a deal, but looks like we're headed over the fiscal cliff. It's it too late to work a deal?

Onkel Neal · 12-22-12, 10:05 AM

Nah, they'll strike some kind of deal/delay action at the last minute. If not, no big deal, everyone just gets a tax bump.

Jimbuna · 12-22-12, 01:37 PM

I always thought our UK deficit was large but the US one dwarfs that.

I sometimes wonder what percentage tax rise would be needed to reduce them over say a ten or twenty year period.

magic452 · 12-23-12, 02:57 AM

Quote:

Originally Posted by Jimbuna

I always thought our UK deficit was large but the US one dwarfs that.

I sometimes wonder what percentage tax rise would be needed to reduce them over say a ten or twenty year period.

Jim check out this link, National debt clock.
http://www.usdebtclock.org/

Look at the one on the bottom called Unfunded Liabilities. Yes that is Trillions.
That is the one nobody is talking about but we still have to pay.
Also look at the debt per taxpayer.
These clowns can't even cut a few billion much less do anything about these.
One day, don't know when, but the chit's gonna hit the fan.

Your Toff boys are puppy poop compared to ours.

Magic

AVGWarhawk · 12-23-12, 06:17 AM

This will never pass. Pelosi will insist we go over the cliff. She will pass a bill that concerns plastic surgery. The remaining face lifts she will endure are now at tax payors expense.

I believe the middle class will get a bump. Certainly for Obamacare. Let's not get into that loser of a proposition. The biggest question is what bump for those making $250,000 a year. The question of cutting spending is still in the balance.

em2nought · 12-23-12, 09:46 AM

Quote:

Originally Posted by AVGWarhawk

The question of cutting spending is still in the balance.

Like cutting spending is ever going to happen in a meaningful way LMFAO

Jimbuna · 12-23-12, 08:10 AM

Quote:

Originally Posted by magic452

Jim check out this link, National debt clock.
http://www.usdebtclock.org/

Look at the one on the bottom called Unfunded Liabilities. Yes that is Trillions.
That is the one nobody is talking about but we still have to pay.
Also look at the debt per taxpayer.
These clowns can't even cut a few billion much less do anything about these.
One day, don't know when, but the chit's gonna hit the fan.

Your Toff boys are puppy poop compared to ours.

Magic

Wow!!

Certainly puts things into perspective for me

Armistead · 12-23-12, 09:57 AM

Quote:

Originally Posted by magic452

Jim check out this link, National debt clock.
http://www.usdebtclock.org/

Look at the one on the bottom called Unfunded Liabilities. Yes that is Trillions.
That is the one nobody is talking about but we still have to pay.
Also look at the debt per taxpayer.
These clowns can't even cut a few billion much less do anything about these.
One day, don't know when, but the chit's gonna hit the fan.

Your Toff boys are puppy poop compared to ours.

Magic

Last I read, the US owes more money than contained in all banks and stock markets in the world combined..

Platapus · 12-23-12, 11:16 AM

Quote:

Originally Posted by Armistead

Last I read, the US owes more money than contained in all banks and stock markets in the world combined..

But since the majority of the debt is held by the Federal, state governments as well as the citizens of the US, I doubt we are going to foreclose on ourselves?

For the most part the "debt" is just a political tool to get the citizens riled up.

Every time a politician brings up the "debt", what are they asking for? Increased political power of some sort. Some increased control over something. I have never heard of a politician claiming that the solution to the "debt problem" is less power/authority. It is usually "give me or my people more political power than my opponents".

eddie · 12-22-12, 01:49 PM

Quote:

Originally Posted by Armistead

I thought they would work a deal, but looks like we're headed over the fiscal cliff. It's it too late to work a deal?

I agree with Neal, they'll work something out. Neither side wants to be blamed for taking us over the cliff. Sad thing is, they are not working to help the country as a whole, just posturing to act like they care. Working together as a group is a foreign idea to all of them!

Takeda Shingen · 12-22-12, 02:08 PM

What'll happen is the two sides will come together long enough to pass an emergency bill and kick the can down the road. Then we get to do this whole thing again during the summer.

Aces · 12-22-12, 02:18 PM

Phew, That title gave me a few hyper-ventillating moments!.

I thought that Fiscal Cliff would top the Christmas No.1 singles chart again, I've never forgiven him for "The Millennium Prayer".

As Marlon Brando said in Apolcalpse Now "The Horror"!

Cheers

Aces

12-22-12, 10:02 AM	#1
Armistead Rear Admiral Join Date: Dec 2008 Location: on the Dan Posts: 10,880 Downloads: 364 Uploads: 0	Fiscal Cliff.. I thought they would work a deal, but looks like we're headed over the fiscal cliff. It's it too late to work a deal?

12-22-12, 10:05 AM	#2
Onkel Neal Born to Run Silent Join Date: Jan 1997 Location: Cougar Trap, Texas Posts: 21,383 Downloads: 541 Uploads: 224	Nah, they'll strike some kind of deal/delay action at the last minute. If not, no big deal, everyone just gets a tax bump. __________________ SUBSIM - 26 Years on the Web

12-22-12, 01:37 PM	#3
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,473 Downloads: 63 Uploads: 13	I always thought our UK deficit was large but the US one dwarfs that. I sometimes wonder what percentage tax rise would be needed to reduce them over say a ten or twenty year period. __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

12-23-12, 06:17 AM	#5
AVGWarhawk Lucky Jack Join Date: Jun 2005 Location: In a 1954 Buick. Posts: 28,253 Downloads: 90 Uploads: 0	This will never pass. Pelosi will insist we go over the cliff. She will pass a bill that concerns plastic surgery. The remaining face lifts she will endure are now at tax payors expense. I believe the middle class will get a bump. Certainly for Obamacare. Let's not get into that loser of a proposition. The biggest question is what bump for those making $250,000 a year. The question of cutting spending is still in the balance. __________________ “You're painfully alive in a drugged and dying culture.” ― Richard Yates, Revolutionary Road

12-22-12, 02:18 PM	#12
Aces Ace of the Deep Join Date: Apr 2005 Location: London, UK Posts: 1,140 Downloads: 211 Uploads: 0	Phew, That title gave me a few hyper-ventillating moments!. I thought that Fiscal Cliff would top the Christmas No.1 singles chart again, I've never forgiven him for "The Millennium Prayer". As Marlon Brando said in Apolcalpse Now "The Horror"! Cheers Aces __________________ Gamefront: http://tinyurl.com/bpbaeyl Mediafire: http://tinyurl.com/bn2aoqt YouTube: http://tinyurl.com/clvy94f RSS Feed: http://tinyurl.com/cpbbqv9 Blog: http://tinyurl.com/cv44x82

12-22-12, 02:08 PM	#11
Takeda Shingen Navy Seal Join Date: Mar 2000 Posts: 8,643 Downloads: 19 Uploads: 0	What'll happen is the two sides will come together long enough to pass an emergency bill and kick the can down the road. Then we get to do this whole thing again during the summer.