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Why is it "going over a cliff"?

Discussion in 'The OT' started by BattleScott, Dec 27, 2012.

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  1. BattleScott

    BattleScott Hall Of Fame

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    Since the increase in taxes and cuts in spending are what has been needed and agreed upon all along, why are we now about to "Go Over the Fiscal Cliff"?

    Seems more accurate to say the we are "Almost to the Top of the Cliff". Anything congress would do now would be like knocking us off and sending us falling right back to the bottom...
     
  2. MysteryMan

    MysteryMan Well-Known Member DBSTalk Club

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    Like I've posted before, Congress is the opposite of progress.
     
  3. jimmie57

    jimmie57 Hall Of Fame

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    The Economy will go over the cliff and into a possible recession because of all of the increases in taxes and jobs that will ultimately be lost if this happens. This is what I gather from all the talking heads on TV.

    The politicians all want it their way and the heck with all of us.
    They have totally lost the ability to work together to reach a needed goal of any kind.
    They all need to be booted out and shown that they can not stay there and get nothing done.
     
  4. Stuart Sweet

    Stuart Sweet The Shadow Knows!

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    The term was designed to be scary. Remember this is part of the compromise that was reached to raise the debt ceiling last time. "Y'all better get along or the whole country is going off a cliff."

    I'm no economist and so I can't say what the real consequences would be. I will make a prediction that sometime between Dec. 29th and Jan. 6th the branches of government will agree on a compromise that postpones most of the really scary parts of the "cliff" another 2 years.

    And I'd ask everyone here to keep civil; we did have some rather long and sometimes raucous political threads here in 2012 but this really isn't the right forum for that discussion. If it starts to turn into partisan attacks, regardless of who started it, I'll simply close this thread without comment.
     
  5. Chris Blount

    Chris Blount Creator of DBSTalk Staff Member Administrator DBSTalk Gold Club

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    Sorry guys. Political talk is not allowed in the open forums.

    Closing.
     
  6. Stewart Vernon

    Stewart Vernon Roving Reporter Staff Member Super Moderator DBSTalk Club

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    Without going any farther into politics than I have to, because we aren't that kind of forum...

    This whole "fiscal" cliff thing disappoints me as much as anything. The short version, as I understand it...

    Last year when the debt ceiling was about to be hit (another concept that was thrown around in the media without full explanation)... one side wanted to raise it, the other side didn't want to but ultimately agreed we needed to in order to avoid some problem that would have otherwise happened.

    Meanwhile... both sides wanted to push some other financial changes, each side wanted some different things... so BOTH parties agreed that they would raise the debt ceiling IF they could come to an agreement over the next year to do some meaningful financial reform that would avoid this happening in the future.

    So... to enforce that thought, each side threw a few cuts into the "hat" that the other side did not want to have happen... as a sort of "poison pill" meant to encourage both parties to discuss and agree on real reform and cancel out the stuff they are talking about kicking in the start of the year.

    Problem?

    Pretty much immediately after both sides agreed to all this... BOTH sides began to argue about how the other side wanted bad things to happen in January 2013... and rather than try to talk and agree as they had promised they would do... everyone spent the better part of this past year trying to find a loophole out of those "bad things" that would cause the "fiscal cliff" of their own making.

    It is pretty much ineffectual ineptness to the highest degree... Inability to agree on anything but a "poison pill" that they then disagree even on that afterwards!
     
  7. Chris Blount

    Chris Blount Creator of DBSTalk Staff Member Administrator DBSTalk Gold Club

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    One other note, our DBSTalk Club Member forum is a bit more open on these subjects. Just sayin.
     
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