Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 11-21-2011, 04:33 PM
 
3,064 posts, read 2,645,305 times
Reputation: 968

Advertisements

"It now appears the Joint Select Committee on Deficit Reduction (the “Super Committee”) will deadlock, resulting in automatic spending cuts of $1.2 trillion over the next 10 years. Some are decrying this as a failure; I’m celebrating it as a victory. Clearly, much more must be done to cut federal spending and avert a fiscal crisis. But real spending cuts were never on the table. What was on the table was a disastrous tax hike that would have undermined our economic recovery and given Washington politicians even more money to spend, undermining the goal of cutting spending."

Read more: Why The Super Committee Deadlock Is A Victory, Not A Failure | Fox News

Makes sense to me.
Reply With Quote Quick reply to this message

 
Old 11-21-2011, 04:37 PM
 
Location: St. Joseph Area
6,233 posts, read 9,499,165 times
Reputation: 3133
Quote:
Originally Posted by doctrain View Post
"It now appears the Joint Select Committee on Deficit Reduction (the “Super Committee”) will deadlock, resulting in automatic spending cuts of $1.2 trillion over the next 10 years. Some are decrying this as a failure; I’m celebrating it as a victory. Clearly, much more must be done to cut federal spending and avert a fiscal crisis. But real spending cuts were never on the table. What was on the table was a disastrous tax hike that would have undermined our economic recovery and given Washington politicians even more money to spend, undermining the goal of cutting spending."

Read more: Why The Super Committee Deadlock Is A Victory, Not A Failure | Fox News

Makes sense to me.
I respectfully disagree. To me it shows a congress that cannot get its act together at all. And besides, who's to say that those 1.2 trillion in cuts will actually take effect anyway? They're not scheduled to happen until 2013, so congress can easily reverse itself.
Reply With Quote Quick reply to this message
 
Old 11-21-2011, 04:54 PM
 
1,692 posts, read 1,965,087 times
Reputation: 1190
And 1.3 billion over 10 years is a drop in the bucket. It's around 10% of the cumulative projected budget deficit over the next 10 years.
Reply With Quote Quick reply to this message
 
Old 11-21-2011, 06:07 PM
 
33,387 posts, read 34,950,446 times
Reputation: 20030
not only that but it is only a cut in the increase in federal spending, not a real cut anyway.
Reply With Quote Quick reply to this message
 
Old 11-21-2011, 06:20 PM
 
Location: North of Canada, but not the Arctic
21,272 posts, read 19,892,097 times
Reputation: 25850
It's not a blessing; it's a shame. Tax increases and spending cuts are both necessary. Not that I'm in favor of higher taxes, but our generation got us into this mess and we ought to get ourselves out of it before the next generation has to bear the burden.
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top