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Old 01-01-2013, 01:24 PM
Status: "Ephesians 6:12" (set 17 days ago)
 
44,996 posts, read 26,154,274 times
Reputation: 24741

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Fiscal Cliff Deal: $1 in Spending Cuts for Every $41 in Tax Increases

Quote:
. According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts
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Old 01-01-2013, 01:31 PM
 
Location: Whoville....
25,386 posts, read 35,407,229 times
Reputation: 14692
Quote:
Originally Posted by Frank DeForrest View Post
All we can do is hope the republican House does it's job and votes this down. I can't believe this is ALL the dems could come up with. Of course they'll blame the republican house for not accepting their rediculous offer.
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Old 01-01-2013, 01:43 PM
 
Location: Baldock, hertfordshire, England
769 posts, read 876,260 times
Reputation: 254
GDP could go down otherwise and the world would end.
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Old 01-01-2013, 01:45 PM
 
Location: Great State of Texas
86,052 posts, read 84,148,425 times
Reputation: 27718
Now people..this is the CBO remember.
So reality says that the spending will be twice what the CBO says and revenues will be 1/2 what the CBO says.
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Old 01-01-2013, 01:49 PM
 
29,409 posts, read 21,918,854 times
Reputation: 5455
Quote:
Originally Posted by HappyTexan View Post
Now people..this is the CBO remember.
So reality says that the spending will be twice what the CBO says and revenues will be 1/2 what the CBO says.
You are correct. Spending will most likely be higher than your prediction. Did the ceiling get raised yet again in this little "deal"?
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Old 01-01-2013, 01:52 PM
 
13,900 posts, read 9,723,759 times
Reputation: 6856
I'm still waiting for the GOP to put out their plan with the actual cuts to Medicare, Social Security, and defense. That's where all the money is spent. Where's the cuts?
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Old 01-01-2013, 01:59 PM
 
29,409 posts, read 21,918,854 times
Reputation: 5455
They need to raise the FICA tax before doing anything if they want to save any of these "programs". Instead they give folks a cut there. It makes no sense but nobody cares. Tax the evil rich is the battle cry. Will any of that evil rich folk money go to save the soc security programs? Not a penny. It will all be thrown at nonsense. Raising taxes and not cutting spending means that you just have more to waste away on nonsense. Nobody I know has a problem with paying more taxes if its going to go to where it needs to go. This insanity has no end in sight except a train wreck. With these loons in charge it will most likely be a hi speed rail crash after they spend trillions on it. lol
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Old 01-01-2013, 02:02 PM
 
Location: Great State of Texas
86,052 posts, read 84,148,425 times
Reputation: 27718
Quote:
Originally Posted by KUchief25 View Post
You are correct. Spending will most likely be higher than your prediction. Did the ceiling get raised yet again in this little "deal"?
Nah..why combine 2 crises when you can get the most fear and panic out of 2 separate ones ?
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Old 01-01-2013, 02:03 PM
 
Location: Great State of Texas
86,052 posts, read 84,148,425 times
Reputation: 27718
Quote:
Originally Posted by Winter_Sucks View Post
I'm still waiting for the GOP to put out their plan with the actual cuts to Medicare, Social Security, and defense. That's where all the money is spent. Where's the cuts?
No cuts. Obama wants to wait a year while the Senate said to wait 2 months.
Spend and tax now, cut later.
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Old 01-01-2013, 02:05 PM
 
Location: Great State of Texas
86,052 posts, read 84,148,425 times
Reputation: 27718
Quote:
Originally Posted by KUchief25 View Post
They need to raise the FICA tax before doing anything if they want to save any of these "programs". Instead they give folks a cut there. It makes no sense but nobody cares. Tax the evil rich is the battle cry. Will any of that evil rich folk money go to save the soc security programs? Not a penny. It will all be thrown at nonsense. Raising taxes and not cutting spending means that you just have more to waste away on nonsense. Nobody I know has a problem with paying more taxes if its going to go to where it needs to go. This insanity has no end in sight except a train wreck. With these loons in charge it will most likely be a hi speed rail crash after they spend trillions on it. lol
FICA is a progressive tax. They could raise it and those making more money pay more.
Raise it to 8-9% even. That's how to bring more money into SS.
You have to find a viable funding solution because you have to think of future generations.
Cutting payments to current SS recipients will not solve the funding problem for future generations.
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