Everything You Need to Know About the Fiscal Cliff (WSJ Video with excellent animation )

WSJ ^ | 10/31/2012 12:18:54 PM7:31

[Ernest_at_the_Beach]

Last August, President Obama and Congress put the U.S. economy on course to go over a "fiscal cliff." WSJ's David Wessel tells you everything you need to know about the "cliff" but were afraid to ask.

Video at the link...really nicely done....

[sneakers]

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[JennysCool]

All you need to know about the “fiscal cliff” is Republicans better not, under ANY circumstances “cooperate” or “join in” with Obama’s “plans.” The Dems are absolutely manic that Republicans “go along,” which means they are well aware that absolute disaster is coming and they don’t want to own it alone. Let them.

The result of Tuesday’s election could well be 50 million or so Americans suddenly being forced to confront reality. “THAT INEPT SOB LIED TO US! WTF??????”

[SMARTY]

Conservatives are in an impossible situation.

The result is as bad if they go along as if they don’t

[The Californian]

bttt

[xvq2er]

BFL

[Behind Liberal Lines]

We need to let it happen: Across the board tax increases that include the 47% and across the board spending cuts that target social programs as well as defense. Any other “compromise” will simply reward the takers and keep social programs intact.

[RushingWater]

Conservatives are in an impossible situation.

The result is as bad if they go along as if they don’t

You must go on principle more than ever. How great would it be if Boehner said here's our resolution/bill - Kill Obamacare (can't afford it anyway), make Bush tax cuts permanent, then slice and dice other pork from budget - pass that bill, send it to the Senate and then RECESS congress - how hard is that? All spending resolution authority resides in the House, yet they still won't man up to it!

[molson209]

If the GOP stands it’s ground the Bush tax cut turns to Obama tax hike on it’s own Jan 1 , Obamacare adds another 500 billion in tax hikes ,2013 will be a good year

[Ernest_at_the_Beach]

The Video is pretty quick .

The animation is good.

[Son House]

Hand him the 9% flat tax, add a 11% rate for $250k and above, and then go home for Christmas.

[kaehurowing]

Can I ask, why aren’t we in FAVOR of going off the fiscal cliff? Government needs to be called to account for its mismanagement, it’s not going to happen so long as it successfully just keeps on pushing the problems they’ve created under the rug for a later generation to deal with.

It’s the same problem with paying your taxes. If the government made you write them a check every pay period, instead of doing an automatic deduction, there would be rioting in the streets when people realized how much they are being ripped off for.

[JennysCool]

Not impossible at all, just let the Libs go ahead with their “plans.” Let Americans see how completely inept they are. Once and for all.

Americans may have re-elected Obama, but their patience with him is wearing VERY short indeed. If there isn’t some improvement and FAST, he’ll find even his supporters turning against him. And once the well of American sympathy is empty, it’s Katie bar the door.

[SMARTY]

No one HERE would fault him if he had the stones for THAT!

[Joe Brower]

I would not be surprised if the GOP (lead by weepy) caves on this, fearing how they will be deep-fried by the media as the sole cause of everything bad that would happen should the U.S. go over this 'cliff'. Because that's exactly what would happen.

That said, I find this fellow's analysis to be generally good, except for his take on defense spending. He completely ignores what a drastically downsized U.S. military would mean to world stability. Does he think all those nations he mentions are going to suddenly bolster their forces to make up for the deficit?

The U.S. has long provided a vast security blanket for most of the rest of the western world, like it or not. Take that away, and the upheavals that would result would make things like the deficit look like small potatoes.

My view from the saddle...

[ModelBreaker]

Actually, the fiscal cliff may not be that bad. I think it only cuts 1 trillion and change off the deficit over ten years. That’s a drop in the bucket.

[GeronL]

They will blame the GOP no matter what

[Digger]

Conservatives are in an impossible situation. The result is as bad if they go along as if they don’t

Just another example of why this nation is a lost cause. I'll bet that in 30 yrs this nation will be divided into 3 or 4 regions or one great big totalitarian/commie cesspool.

[SMARTY]

WE know that, but the millions of fat lazy cows who have been living of gov’t largess for so long, would be lost!

[GBA]

I followed the Drudge link to read about the Murray Energy CEO and his prayer to his employees before announcing layoffs. It was heart wrenching to me, but not to those who responded to the WaPo article. Good lord, it's much worse than I thought.

I think what I read in those comments is why we have World Wars, world wide famines and diseases that decimate the population.

We just go too far down the dark path, we get too far off the plan and maybe it becomes clear to God, our Father, that we, his children, need a lesson and a reset, so He clears the board.

It's deja vu all over again, baby. Let me be among the first to say:

Welcome to blue states of Sodom and Gomorrah. Hope you have a happy Isaiah 9:10!