U. S. News & World Report Chides Do-Nothing Congress Heading To Fiscal Cliff!

Discussion in 'Economy' started by mascale, Sep 11, 2012.

  1. mascale
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    mascale VIP Member

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    Famous pundit Herb Krugman directly chided House Republicans for failing to even bring the Obama-Biden 2011 stimulus plan to a vote: And then trying to blame the Obama-Biden policies passed only in the Senate for creating a certain stagnation during Spring of this year.

    Now going forward, U. S. News & World Report is also on board: With the same message!

    CBO Chief: Do-Nothing Congress Stalling The Economy - US News and World Report

    Coincidentally, Moody's is already threatening another downgrade of the bond rating, creating a "negative watch" scenario.

    For no major purposes, here(?), anyone can see how impacted real business is with the federal budget. Federal Contractors are cited as amongst those most concerned.

    This has happened with the Conservatives running the legislatures before. Federal Budget matters are put on hold, like now. No sub-contracting happens! Corporate procurment offices freeze. Annual budgets cannot be created. Purchasing cannot happen.

    "What do they know, and when did they know it?!" as is usual: Comes to Mind!

    U. S. News & World Report--even now comes to mind: As helping to identify the "usual suspects," creating the problem!

    "Crow, James Crow: Shaken, Not Stirred!"
    ("Nein! Nein! Nein!" even itself comes to mind(?)!)
     
    Last edited: Sep 11, 2012
  2. kwc57
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    kwc57 BOHICA Obama

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    Curious, did he mention obstructionist Harry Reid over in the Senate who kills bills and doesn't let them even be discussed, much less voted on? I didn't think so.
     
    Last edited: Sep 11, 2012
  3. iamwhatiseem
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    iamwhatiseem Gold Member

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    Krugman is simply being the same disingenuous Kool-Aid provider he has been for 20 years.
    No mention of how the Democrats have not proposed a budget in 3 years.
    No mention of how Obama's past two budget proposals had over $1 trillion in deficit spending - which would have turned into at least $1.5 trillion in deficit spending.

    Nah...it is all the Republicans fault. That is...until you tune into Hannity tonight - then it will be all the Democrats fault.
    Same thing tomorrow.
     
  4. kwc57
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    kwc57 BOHICA Obama

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    It amazes me that liberals and the left leaning apologetic media seem to think that Congress is only the House which is run by Republicans and seem to have no concept that there is also the Senate which is run by the Democrats. Convenient memory lapse.
     
  5. mascale
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    mascale VIP Member

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    In the article:
    __________________________

    During the debt ceiling debacle last summer, Congress set automatic spending cuts in place to force an agreement by the so-called super committee, a group of legislators saddled with the task of hammering out a deal to rein in the national debt. Their failure to find common ground then triggered $1.2 trillion in across-the-board spending cuts scheduled to take place on Jan. 2, 2013.

    Steven Davis, deputy dean at the University of Chicago Booth School of Business, studies the effects of policy uncertainty on the economy and agrees with Elmendorf that the threat of looming sequestration, expiration of the Bush-era tax cuts, and the threat of an upcoming debt ceiling crisis are likely affecting the economy now even though none of them have actually occurred.And since stock markets dread uncertainty, Wall Street has already settled into a period of extreme volatility.
    _________________________

    One main Wall Street effect has been various houses advising investors to ignore the fiscal cliff any buy while everything is cheap!

    Really Cheap hasn't happened since March, 2009. Likely many have finally left the Labor Force, as a result! So far, Washington Statisticians don't seem to know about these things. In the article, CBO is small---but still, they discuss the money.

    Anyone guesses that liberals already know about discussing the money!

    Mostly Milton Friedman types: New absolutely nothing about the money. Bill Clinton noted only last week: That actually it is subject to arithmetic! Friedman-types are a bit more primitive about it. "More" means "inflation," even when there is none(?)!

    Liberals actually have a different concept. The concept is really vastly different from an Ayn Rand type, standing on a street corner, along Van Nuys Blvd., in Los Angeles, even looking like Ayn Rand! "Buy My books! Buy My books! Buy my books and y'all be Saved! Uh Huh!"

    "Crow, James Crow: Shaken, Not Stirred!"
    (Not many White Eyes even: In San Fernando Valley, of Los Angeles, only 100 years ago! There be no water, there! That be--fiscal disaster, until Roosevelt built the Sepulveda Basin, to contain the flash floods--near Van Nuys Blvd., now! After water happened, the area then did become a home, and even to Refugees that even Europe somehow let escape(?)!)

    "Crow, James Crow: Shaken Not Stirred!"
    (Who Are Those Indigenous Peoples, even now? "Oy! Oy! Oy! Oy!" make funny sound in wigwams, where there were none! "Si! Si" Si" S!" funny sound even before!)
     
  6. kwc57
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    kwc57 BOHICA Obama

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    Since you have trouble catching on, let me repeat the question. Where is the discussion concerning Harry Reid and the Democratic Senate in your article? No blame there? None at all? Hack.
     
  7. expat_panama
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    expat_panama Silver Member

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    That "Fiscal Cliff" has to be blamed on the 'Reid-Obama' axis of evil. They passed the Pelosi budget years ago and have seen to it that all that tax'n'spending stays in place no matter what the Republican House does.


    Democrat budget scam = 'fiscal cliff'; no way around it.
     
  8. mascale
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    mascale VIP Member

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    (1) Subseqeunt "Reagan Trajectory" Two, under Bush-Cheney, Even More Deficit under Bush-Cheney was sent to the millionaires and billionaires using the TARP deficit support of only a tiny segment of the marketplace, the rich!

    (2) Subsequent "Reagan Trajectory Two," under Bush-Cheney, Obama-Biden created the Great Stimulation--including of the marketplace as a whole--which the stock markets noticed after March, 2009.

    (3) Subsequent "Reagan Trajectory Two," under Bush-Cheney, the unemployment rate would rise to more than 10% official rates, and then fall to 8.1% in the most recent reporting.

    (4) Even that most recent report apparently cannot find enriched investors taking some time off from labor force participation.

    (5) The "Fiscal Cliff" was an agreement in the two federal legislatures--Reid McConnell, Boehner-Pelosi--to create a January, 2013 trigger in the event that Boehner-Cantor was shown to be as stupid and inept as they both looked and had also been shown to be in person.

    (6) Boehner-Canator were unable to do leadership of the Tea Party in their own ranks, supportive of the agreement. That caused the "Trigger," now called the "Fiscal Cliff."

    (7) The trigger does not originate of Pelosi-Reid, but is a process outcome including many players.

    (8) Noted in the linked OP article: Real business depends on federal contracting.

    (9) Rep. Ryan is famously on record opposed to federal contracting "spending."

    So without the myopic kwc57 and expat_panama, devoid of analysis kinds of commentary, in their posts: The Role of Pelosi-Reid is clearly shown, both opposed to the "Fiscal Cliff."

    So without the myopic kwc57 and expat_panama, devoide of analysis kinds of comentary, in their posts: The Role of Boehner-Cantor-Ryan is clearly shown as the cause of the "Fiscal Cliff."

    U. S. News & World Report is properly OP linked!

    "Crow, James Crow: Shaken, Not Stirred!"
    (Pelosi-Reid send players to Lands of Many Nations, understanding resorts and cash-required games of adults. Boehner-Cantor-Reid clearly intend to take cash players away from lands of Many Nations--opposed to federal contracting dollars, supportive only of the Tea Party and the "Fiscal Cliff!")
     
    Last edited: Sep 12, 2012
  9. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says, "Dat's right - Obama gonna push dem tax an' spend politicians off the fiscal cliff...
    :eusa_clap:
    Officials: Obama ready to veto a bill blocking ‘fiscal cliff’ without tax hike for rich
    October 17 - President Obama is prepared to veto legislation to block year-end tax hikes and spending cuts, collectively known as the “fiscal cliff,” unless Republicans bow to his demand to raise tax rates for the wealthy, administration officials said.
    See also:

    If elected, Romney wants a say in 'fiscal cliff'
    19 Oct.`12 WASHINGTON (AP) — Mitt Romney's transition team is quietly talking with government officials and Capitol Hill to develop a plan, if he's elected, to prevent massive cuts to the defense budget and extend tax cuts first passed under President George W. Bush.
    Well, duh if he's President, won't he have a say? And he wants people to elect him??
     
    Last edited: Oct 19, 2012
  10. Rshermr
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    Rshermr VIP Member

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    And your proof is?????
     

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