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LOL
The GOP couldn't even get agreement among themselves but somehow Obama is to blame? - for the GOP not being able to reach agreement among THEMSELVES?
So much for the "Party of Personal Responsibility". You folks can't even seem to take responsibility for what you do amoung YOURSELVES.
It's OK though.
Obama WILL get what he wants. If we go off the cliff, the Democrats will simply introduce legislation to restore cuts to everyone but the top 2% and then DARE the GOP to block it. Problem solved. Obama gets taxes on the top 2% raised back up to the Clinton level while everyone else gets to keep their cuts. The budget cuts - which will hit heavily at defense are another story - and the GOP and their backers will NOT be happy about that.
Ken
Well gee, neither can the Dems Ken. They're just pointing fingers at each other when neither side has a consensus among themselves.
And that's why we should just let all the mandated cuts happen.
This country needs to tighten their belts as well as pay more.
Add all that will happen plus no more AMT patch and taxes will go up.
Let the mandated cuts happen and spending will go down.
The timing for that is horrible. It will bring the stock market down sever thousand points, and cause a lot of people to lose their jobs, which leads to less consumer spending, less tax revenues, and more debt.
No it won't cause the market to go down "several thousand points". A few hundred maybe before leveling off and eventually climbing back up again.
No it won't cause the market to go down "several thousand points". A few hundred maybe before leveling off and eventually climbing back up again.
Maybe somewhere between: my guess is 4-500 points; today's losses will probably bake in some of the effect anyway. But since the real economy is doing fairly well just now, it's not likely to last: a buying opportunity, perhaps even a technical recession, but likely not for long. That's my crystal-ball read anyway.
No it won't cause the market to go down "several thousand points". A few hundred maybe before leveling off and eventually climbing back up again.
Ken
My estimate is 2000-3000 point hit on the stock market as soon as the employment situation reverts back to negative trend, which will happen if we hit the cliff. Lay-offs would be unavoidable, especially in the public sector. Spending cuts = lay-offs. The sell off would start in January and last all year, a slow painful leak in everyone's 401Ks. A lot of people are re-adusting their portfolios in preperation for a bad year in the market.
The GOP is in enough turmoil right now. The last thing they need is a power play for the only real postion of influence they have left. Of course, ever since their stomping in last month's election, they've doubled down on everything that led to their defeat, so it wouldn't be surprising if they go ahead and have a brawl. Their teabagger contingent has now made it plain that they not only hate most Americans, but they also hate their fellow Republicans. And who could ever argue that the GOP's embrace of the radical religious right wasn't a brilliant move?
It would be entertaining political theater. And they'd emerge even more battered and bruised than they already are.
Where we are is: Democrat, Moderate Republican, and Conservative Republican. This is what a multi-party house looks and acts like. Pelosi is the leader of the House Democrats. Boehner is the leader of the House Moderate Republicans. Who is the leader of the House Conservative Republicans? That's the question, isn't it? That, and who is going to negotiate with the House Conservative Republicans to get them on board, or else the Moderate Republicans will have to join forces with the Democrats to get things through the house. Uneasy alliances, unstable and unpredictable, but that's what a legislature is like when you have three or more political parties.
Actually the Dems will agree to whatever Obama ends up negotiating. They are not nearly as fractured as the GOP.
Ken
Yes, I think so. This ball is on GOP end of the court, and at this time do not seem to know how to play it. They think people would blame Obama for the failure, but according to the polls vast majority would blame the GOP.
Actually the Dems will agree to whatever Obama ends up negotiating. They are not nearly as fractured as the GOP.
Ken
As long as Obama doesn't go too far on Social Security or raise the bar above $400,000/year, I think so too. There will be grumbling, but they'll vote for it if Obama can get a deal next year.
This ball is on GOP end of the court, and at this time do not seem to know how to play it.
So far, their idea of how to play ball seems to amount to "grab the ball, run away with it, and tear it to shreds". Apparently my spaniel taught them their politics.
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