Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
just curious about people's opinion on the effect of jumping off fiscal cliff to Houston's economy? it will affect a lot of other places in US, but what about here? will the oil&gas industry be strong enough to withhold the downturn?
Houston's economy is way too diverse for most downturns to really stunt it's growth. I mean when the housing market crash and credit crunched, Houston still had a multitude of other sectors holding it up. I mean it's strong because it doesn't rely on one thing.
With all the tax breaks and incentives it gives developers and business, it won't slow down anytime soon. The only thing I am afraid of is the uneven growth that's being created alongside the positive. There's already a bad economic situation going on in the lower sectors of the city, I mean as bad as most other cities that never recovered. That's the untold story of the Houston boom you do not hear about in Forbes.
The economic cliff would affect Houston, but less then cities and states that have already declared being in the red zone. Texas just keeps pushing that can down the road. We are a few billion in the hole (and growing) as a state and as a city we are determined to be able to borrow money to keep the city running and improving
fiscal cliff gives banks and major corporations the reason to say they are on survival mode even thought they probably wouldn't be off that bad. they are flush with cash and not hiring because the "economy is so bad." give them a trending name for a bad economy i.e. "fiscal cliff" they will shut it down. further cuts, locking down on loans man they would make some serious cash.
so would that affect Houston? yeah. the feds will still keep interest rates real low, but we know the average person still cant get a decent loan for anything. businesses not hiring despite their growth, businesses expecting more out of their workers for less because "you simply have to be happy to have a job in this economy" BS. yeah that'll affect houston
Texas would not be able to cuddle up to the feds at the end of the game with a secret "im sorry for saying i hate you" and get the money they need to run on. you think with this fiscal cliff nonsense the federal government is going to look kindly on states like Texas that shot themselves in the foot? goodbye medical care for women. The feds will say okay texas you want to fund this thing all on your own for the 40 billion you don't have to spend? go ahead and do it. Or they will just keep suing Texas because that really helps Texas and the AG loves a good federal lawsuit. That is all he has been trying to do (except become Senator)
Think there would be a lot of money in medical research and R&D grants for the major industries here in Texas post "fiscal cliff"? Texas already wants to cut down on grants and funding for research and universities (you know our medical institutions here). Will there be the same amount of money flowing to projects like these at the federal level?
IMO the fiscal cliff is something we can all survive and still do well by. Most businesses would also be a-okay. but because of the media coverage of the doomsday story they will have a narrative they can play to further stick it to America. profits at highest levels ever, CEO pay at highest level ever, layoffs still happening, middle class income levels down, productivity up - that all happened because of the economic collapse they are about 80% at fault for. think the FISCCCCAAALLLL CLIFFFFFFFF would suddenly make them reasonable?
IMO the fiscal cliff is something we can all survive and still do well by. Most businesses would also be a-okay. but because of the media coverage of the doomsday story they will have a narrative they can play to further stick it to America. profits at highest levels ever, CEO pay at highest level ever, layoffs still happening, middle class income levels down, productivity up - that all happened because of the economic collapse they are about 80% at fault for. think the FISCCCCAAALLLL CLIFFFFFFFF would suddenly make them reasonable?
that is my biggest fear
Exactly. This fiscal cliff fiasco has been ramped up as a measure for some drastic need in cuts to spending and more incentives for business. I mean good god the narrative these major corps play out is so outlandish, and how we continue to let them devastate the country is criminal. Their economic paradigm needs to shift already. This framework they've boxed the country into seems too conveniently narrow. How is it that each time there is a crisis looming the only way to get out of it is to discipline labor, enact "tough love" on the middle class, and give corporations everything they want? LOL.
We say Europe is on the brink but we experience austerity far more subtly.
Let us fall off the cliff, at least we will be closer to a balanced budget for the future. Stop the bailouts already. It will probably sting a little for the first and second quarter of next year and then the economy will get back on track but the media loves to make things seem so much worse. When it comes to taxes I don't get the big deal, I have to pay a tax rate that I used to pay only a few years ago. Thank you for the tax relief for a few years, I put a little extra in savings but now it is time to think about the future and we can't keep going into debt and it is not the responsibility of the the 1 or 2% that already pay a much higher tax bracket of 40%+. It is for everyone to pitch in and get this country headed back to being #1 because we are by far from it right now.
from the situation now, it seems that falling off the cliff is almost inevitable, the super incompetent congress together with White House are going nowhere near to any deal, but coming January, if the cliff happens, the senate will immediately try to pass a deal to extend tax cut for the 98%, which GOP can not object, otherwise they will be public enemy No. 1, so all in all, DEM will get part of what they want eventually.
We are screwed either way. Let's be clear about something here kids. The game that is being played out is not the democrats want to spend more and the republicans want to spend less. Both parties want to spend more. They are fighting over the "growth" of spending. No one in this country outside of Ron Paul is talking about cutting spending. The water is warm, the frogs just aren't boiling yet. One degree at a time. We'll get there. But not to worry, by the time you guys start boiling to death, you won't feel a damn thing.
just curious about people's opinion on the effect of jumping off fiscal cliff to Houston's economy? it will affect a lot of other places in US, but what about here? will the oil&gas industry be strong enough to withhold the downturn?
What makes you think that the "Fiscal Cliff" is going to hurt the US economy?
It's just going to be the same as before the George Bush years = Better than today
What makes you think that the "Fiscal Cliff" is going to hurt the US economy?
It's just going to be the same as before the George Bush years = Better than today
Are you really that naive? Wow.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
