Looks we're going over the fiscal cliff

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http://news.yahoo.com/fiscal-deal-stall ... iness.html

I place the blame on both parties.

That means I'll be homeless in about a month. Oh well. Roof, it was nice having you over me for a while. Take care of yourself.

It doesn't really matter if they get a deal done now or a couple weeks from now. They can make a retroactive deal. I imagine Obama will let us "go over" to strengthen his hand in negotiating.

No deal because it is a problem without solution. The best offers reduce excess spending by a trillion, over ten years, while over spending continues at one Trillion per year.

We are going to be the best defended failed Empire in history. Even at that we cannot put an army in the field, we have only a 1970 atomic defense, we cannot do anything but end the world.

People on a two year election cycle are not going to do what has to be done, cut millitary spending, increase taxes, and reduce the government, till we can pay off some two trillion a year. At that it will take ten years.

No aid to States, Cities, Farmers, Oil Companies, put it on real basis, and there is no way to pay the outstanding Pensions.

We can put an Import duty on manufactured goods, they cannot do the same to our food exports.

We are in for a rough ride no matter what.

And now, a word from our sponsor.

[youtube]http://www.youtube.com/watch?v=2bHeD73YYyQ[/youtube]

It was bound to happen...

The suits are set for life, and as such, they only pretend to give a crap to get elected.

The hype on this is absolutely amazing.

We have gotten to the end of our spending authorization before and it has never really been a big deal. Generally they send a few people home and when they get the authorization, they end up paying them for work they didn't do.

As for the tax issues, whatever does get passed, when it gets passed, will undoubtedly be retroactive to the first of the year. It would be a real nightmare if your income for January as at a different tax rate than your income for the rest of the year.

I'm not going to waste a second worry about the fiscal cliff. From my point of view as being a strong proponent for fiscal responsibility, the best thing that could be happen would be to cut spending however much is needed to balance the budget. Borrowing money for what is nothing more than current consumption is nothing but incredible stupidity. We either pay for it now or we pay for it with interest in the future.

tune into news

FISCAL CLIFF AVOIDED
problem solved

I honestly believe Obama wanted this to happen so he could blame the Republicans.

So sick of the hype up and this fiscal cliff talk!! !!

If the House, that just turned down raising taxes on $1,000,000 will now vote for $400,000, otherwise no deal.

This is all play acting by clowns, as the real Congress will come on the third.

To give some hope, everyone knows defense is the only thing to cut, and none dare vote for it. Every retiring general has a deal with a defense contractor, they pay Congress, and Lobby.

And it just so happens just as we hit the debt ceiling.

Next step gridlock, higher taxes for all, an end to ever growing government, and it should include an across the board pay cut.

Ten years of war has produced a lot of damaged troops, That debt has to be paid.

Social Security was paid by those who collect, and money borrowed from the fund must be paid back.

Pay the interest on Bonds, or the Principal becomes due.

Government, Millitary, have to be cut.

Also, going back to a 1993 tax rate is not that bad. All that chanting, We Number One, has to be paid for.

GM, Banks, AIG, might have paid back the bailout, but Fanny and Freddie are a Black Hole of real estate debt, with no recovery in sight.

That is the broad based hole, much bigger than the banks, and it can still drag down banks, brokers, and the government, as this will not be good for employment, housing, foreclosure, local taxes, or the 25% underwater.

In the early 90s the Resolution Trust sold off the Savings and Loan properties, but this time it is Government backed Bonds, not other peoples money. GM went outside the law to loot the stockholders, Bond Holders, but the best the government has come up with is having the Federal Reserve buying Fanny and Freddie paper. Purchases backed by the banks, holding your money.

Overall 60 trillion in real estate is down about a third, and all of tthat is backed by a piece of paper. Mark to market the Banks would be closed.

No one can take the 20 trillion loss. More because the mortgage was for the pre crash price.

Extended unemployment becomes a debt on the States, all future workers have to pay.

The next boom may never happen. As such, our total debt is more than three times our Gross National Product.

We need a third party, based on Retsina and Goat Cheeze.