Originally posted by no1marauderOn the contrary, it will be a very bad thing. It will plunge the US back into recession.
If no deal gets struck by the end of the year, ALL the Bush tax cuts get tossed and there are significant cuts in both military and discretionary domestic spending.
Personally, I'm not so sure that would be a "bad" thing.
Originally posted by mbakuninWill it? We had periods of very strong growth before the Bush tax cuts (which virtually all Democrats voted against; why do they support them now?) and military spending is always wasteful. It's unfortunate that some useful discretionary domestic spending would be cut, but omelets/eggs etc.
On the contrary, it will be a very bad thing. It will plunge the US back into recession.
I find the whole thing curious. All "responsible" adults agree that we need to cut the deficit by some combination of tax increases and spending cuts but the same people are banging the scare tactic drum about the "fiscal cliff" if we do EXACTLY that on January 1st.
Originally posted by no1marauderThe democrats are a strange lot. They seem to advocate that a lower tax rate is needed to avoid economic turn down...........that is for everyone EXCEPT those making over (put in dollar amount of choice).
Will it? We had periods of very strong growth before the Bush tax cuts (which virtually all Democrats voted against; why do they support them now?) .
Meanwhile they spend to inflate away the value of the dollar.
Boy are we screwed.