CBO: If Obama allows the Bush tax cuts to expire, it will be a fiscal freefall

Discussion in 'Economy' started by iamwhatiseem, May 23, 2012.

  1. iamwhatiseem
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    iamwhatiseem Gold Member

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    Surprise....the same tax cuts that the Democrats railed against years ago...and rail about still today - a study by the CBO says it would throw the country back into a recession.
    Whaddya know...

     
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  2. Truthseeker420
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    Truthseeker420 Gold Member

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    Fox didn't say nutin about the speding cuts being part of the equation?
     
    Last edited: May 23, 2012
  3. iamwhatiseem
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    iamwhatiseem Gold Member

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    Is your first name Forrest?
    In the above paragraph alone it mentions it twice. :doubt:
     
    Last edited: May 23, 2012
  4. Truthseeker420
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    Truthseeker420 Gold Member

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    I'm sure most Fox "News" viewers don't read...so again i ask....
     
  5. iamwhatiseem
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    iamwhatiseem Gold Member

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  7. jillian
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    jillian Princess Supporting Member

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    no one really believes that. funny, nothing went into a "free for all" when reagan raised taxes seven times.
     
  8. edthecynic
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    edthecynic Censored for Cynicism

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    So what the CBO really said is, cut the DEFICIT and the economy falls off the "fiscal cliff." Don't try to reduce the deficit and the economy grows by 4.4%.

    Lyin' Ryan, Willard Romney, and the GOP want to cut the deficit NOW, IMMEDIATELY if not sooner, because they don't want the economy to recover before the election.
     
    Last edited: May 23, 2012
  9. itfitzme
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    itfitzme VIP Member

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    What the CBO said is that the reduced spending would result in GDP decline and the the reduced spending would be caused by the expired tax cuts. The FOX title is incorrect.

    So austerity, reduced government spending, will cause an initial decline followed by growth due to a rebound. That doesn't sound to bad. If we can handle the initial decline due to reduced gov't spending. Another way to say it is that the reduced deficit will a short term detrimental effect while the tax increases will have a long term positive effect.

    Sounds great to me, let's do that. Or do we not fare about the deficit now?
     
    Last edited: May 23, 2012
  10. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    The CBO also said that ObamaCare would cost UNDER 1 Trillion dollars .

    Just thought I'd throw that out there.
     

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