Skip to comments.Fiscal Cliff Deal Close - Spending Not Included
Posted on 12/31/2012 5:23:24 PM PST by LD Jackson
Just in case you are tuning in to the ever-changing saga about the fiscal cliff and whatever deal may be finalized in the late hours of 2012, or the early hours of 2013, here is the latest. According to most reports I have read, a deal is close to being done (could it be the deal was done weeks ago). Those same reports are saying the deal will include an agreement on the tax issues of the fiscal cliff, but nothing on spending. Unless you count extending unemployment benefits for another year as a victory on spending.
(Hot Air) As for details, there are no new spending cuts, only discussion of tax rates and how much more well spend. There are wins for sanity in the mix (permanent AMT fix), but this is not a deficit reduction plan, folks. Welcome to this warped town. Negotiators will call it a plan to make wiser cuts than sequestration would have, but sentient beings are right to be concerned about whether they will ever materialize.I would now like to see a show of hands of anyone who is not surprised at the outcome we are likely to see in the coming hours. I don't know about you, but this is what frustrates me so much about Washington and both political parties. For nearly a year, we have listened to our political leaders, Democratic and Republican alike, as they have foretold of the coming fiscal cliff. Much ado was made of how bad the coming tax increases would be for the American economy. Unless you were making over $250,000 as a couple. That classified you as rich and as a rich person, you needed to pay your fair share. Little was said about the spending cuts, other than they would also be bad for the economy. If you failed to grasp the logic of that theory, you aren't the only one.
The deal we are likely to see will probably include a deal to make the current tax rates permanent, up to $400,000 for individuals, or $450,000 for couples. They will go up to 39.6% after that. Unemployment benefits will be extended, ie. more unnecessary spending, and any mention of spending cuts is out of the question. The sequestration spending cuts will probably be put off for at least two months and I'll be surprised if they ever surface again. Hence, my frustration. You'll just have to forgive me for sounding so skeptical about anything coming out of Washington.
The Democrats, especially President Obama, have been very successful at portraying the fiscal cliff as being all about taxes. Everywhere you turn, you can hear them talking about the coming tax increase on the middle class. Taxes, taxes, taxes! That's all they want to talk about. As for the Republicans? Well, they have been missing in action. For the most part, they have been totally and completely unsuccessful at turning this discussion back to its proper roots, which is the uncontrolled spending taking place in Washington. How many times do we have to say this? Taxes are not the problem. It's the spending, stupid!
Nothing good happens in congress on holiday eve.
call GOP Congressmen , tell them not to vote for this nor any deal , go over the news medias stupid cliff:
Congress switchboard number: (202) 224-3121.
It’s not a cliff , it’s just media bs. if there is no vote tonight the media makes it seem like it is the end of the world . that’s a bunch of bull.
Brett Bair just did a brief rundown and it looks like crap. Make your money fast folks. America has a long road.
Sequestration is definitely going to come up again. Republicans already are pushing for switching those across-the-board cuts to savings in the Medicare and Social Security healthcare and retirement programs and threatening to block a debt limit increase in February unless they get their way.
I’ll have to move myself and I’m in NC. Let me know when your ready and pool resources to buy 25 acres in E TN. :^)
They still have it well.
** GET RID OF BONER AND HIS BACKROOM BOYS **
Useless bastards that they are. Fire Boner — we need someone who is a fighter, not a two-bit weak politician, and who believes in the democratic process that this country had at one time.
What a disaster for the American people. The debt of this country will NEVER be paid down. Let the idiot voters that re-elected Obama pay the bills.
PS-We get the Constitution. They aren’t using it anyway.
Of course, the GOP has been ready to cave since day one
Any year to year Federal spending cuts?
The pic depicts how it’s being handled - what they don’t see is the huge sink hole in the middle of the street...