President Obama and the Congress should immediately be cutting at least $200 billion out of the annual deficit (of about $1.1 trillion), if they're to begin saving the economy. I'll bet they don't. And that would mean they've kicked the can over the real fiscal cliff, and the economy is destroyed.
Frank Warner
CNNMoney: Three More ‘Fiscal Cliffs’ Loom on the Horizon
Posted by: CJW | January 02, 2013 at 03:41 PM
Both sides lost because the public rejects their diets
Posted by: CJW | January 02, 2013 at 04:14 PM
Cantor, McCarthy Join 151 Republicans Against Bill
Posted by: CJW | January 02, 2013 at 06:26 PM
Fiscal Cliff Showdown Postponed to March
Posted by: CJW | January 02, 2013 at 10:21 PM
Obama Says Fiscal Cliff Deal Will Reduce Deficit …(Deal Adds $4 Trillion to Deficit)
Posted by: CJW | January 03, 2013 at 01:01 AM
GOP: $16 trillion in debt but still no Democrat budget for 1,361 days
Posted by: CJW | January 19, 2013 at 12:15 PM
We went through the entire last election cycle with the meme that “taxing the rich would solve the debt problems” never ever being given though review by the 4th Estate. Now, it’s all gone .. for New Jersey and New York.
Yes … “What difference, at this point, does it make?”
Posted by: Neo | January 28, 2013 at 01:38 PM
Bob Woodward’s “The Price of Politics,” Page 215 (July 12, 2011):
“A trigger would lock in our commitment,” [White House national economic council director Gene] Sperling explained. “Even though we disagree on the composition of how to get to the cuts, it would lock us in. The form of the automatic sequester would punish both sides. We’d have to September to avert any sequester” — a legal obligation to make spending cuts.
“Then we could use a medium or big deal to force tax reform,” Obama said optimistically.
“If this is a trigger for tax reform,” [House speaker John] Boehner said, “this could be worth discussing. But as a budget tool, it’s too complicated. I’m very nervous about this.”
“This would be an enforcement mechanism,” Obama said.
Obama Nov 21, 2011: "I will veto ANY attempt to prevent the sequester."
Obama Oct 22, 2012: "First of all, the sequester is not something that I've proposed. It is something that Congress has proposed. It will not happen."
Posted by: Neo | February 07, 2013 at 06:04 PM
Free Frank Warner: All eyes on one 'deficit cliff' number: With any agreement, does the $1.1 trillion deficit drop 1 penny?
Posted by: Jimmy Choo Black Leather | May 20, 2013 at 03:07 AM