The Fiscal Cliff

The FISCAL CLIFF comes in two parts.  On January 1 the Bush tax cuts expire and the middle class will get a $2,000 tax increase.  Republicans want to extend all the tax cuts and Democrats want to raise taxes on persons making over $250,000.

The second part of the FISCAL CLIFF occurs every time the debt ceiling is approached.  Congress approves a maximum amount of credit the US treasury can borrow.  Because we are running deficits, the debt limit will be reached early in 2013.  It used to be routine that Congress would approve an increase in the limit.  Since 2010 and the emergence of the TEA party, Congress does not want to increase the limit without cuts in spending.  They feel as I do that we cannot stand more debt.  President Obama wants to increase taxes on the wealthy, but this will not balance the budget.  It also may not increase revenue if income decreases.  If an agreement is not reached, automatic spending cuts will occur as agreed to by a congressional committee.

The focus of this discussion is the survival of government.  Who is looking out for the survival of everyone else?  This is a cyle that will not change unless we stop the growth of government.  Look at what is happening in europe and see what is in store for us if we continue on this path.  I have a better idea with my proposal to reform Social Security.

11 thoughts on “The Fiscal Cliff

  1. Pingback: film streaming

  2. Pingback: Google

  3. I just want to tell you that I’m very new to blogging and site-building and truly savored this website. Probably I’m planning to bookmark your website . You really come with incredible articles. Thanks a bunch for sharing your webpage.

  4. Thank you a bunch for sharing this with all of us you actually recognize what you’re talking approximately! Bookmarked. Please also talk over with my site =). We will have a link change contract between us

  5. Please let me know if you’re looking for a article author for your weblog. You have some really good posts and I feel I would be a good asset. If you ever want to take some of the load off, I’d love to write some articles for your blog in exchange for a link back to mine. Please send me an e-mail if interested. Thanks!

  6. Definitely believe that that you said. Your favourite justification seemed to be on the internet the simplest thing to take into accout of. I say to you, I certainly get annoyed even as folks think about issues that they just don’t recognize about. You managed to hit the nail upon the highest and defined out the whole thing with no need side-effects , other folks can take a signal. Will likely be back to get more. Thanks

Leave a Reply

Your email address will not be published.