Fiscal Cliff
By adforme
@adforme (2114)
November 15, 2012 7:19pm CST
There is a fiscal cliff we are about to go over. Well, how did this happen? I guess we are all going to pay. To save us from this, I believe taxes will increase for everyone. I really hope the next four years doesn't mean even emptier pockets and more debt. These next four years are going to be crucial in seeing where America is going. If overspending, joblessness, and high taxes continue to be the order of the day, there will not be many more days of hope for a productive and effective government.
2 people like this
2 responses
@ram_cv (16513)
• India
16 Nov 12
I was recently reading an article about the Fiscal Cliff. I think the term has got into popular usage, but there is no such cliff kind of situation in the sense that things are not just going to go all bad the next day after the cliff is reached. The author wanted to use the term more as Fiscal Dieting which means that people will have to cough up a bit more taxes, the spending will reduce and the impact would be there for everyone to see but not as dramatically as is being touted by the channels calling it a cliff.
How has this happened, I think there are a lot of sound financial reasons for this. Government overspending over the years, especially during the Iraq wars, then the currency exchange system the way it is currently allows financial people to control the flow of money rather than businesses which actually produce and supply the goods. Finally the situation in Europe which is really not great.
Cheers!
Ram
@ram_cv (16513)
• India
16 Nov 12
The problem with the current system is neither party has the full majority get the tough bills through. This means that unless there is some kind of a compromise by both parties many bills will fail to get through successfully. This makes it easy for either parties to blame the other for the situation and make a credible case out of it. In India we have seen this kind of policy paralysis for a long time with both the major parties just blaming each other while not doing enough to really solve things.
Cheers!
Ram
@Sarge1965 (4)
• United States
16 Nov 12
As a matter of fact he is already planning a tax hike on the middle class. He had four years and did nothing. Do not blame that on the Republicans,they tried to get things together. Many bills were passed in the House, but the Senate just let them pile up without notice.
1 person likes this
@Hatley (163776)
• Garden Grove, California
16 Nov 12
hi adforme for goodness sake give the president a chance before precicting higher taxes. for one thing he is a democrat working to help our country with a heavily republican congress who will d o all they can to stop whatever good he tries to do.
He did not ca se this mess Bush did it in 8 years and Congress and the President in all their various ways have tried to change things. but as long as democrats war with republicrats nothing will get changed.
@Sarge1965 (4)
• United States
16 Nov 12
Sorry for the double posting, but my comment was intended to be to Hatley.
As a matter of fact the president ha already begun preparations for a tax hike on the middle class.
Though many people blame Bush for the fiscal cliff we are caught up in, the president has had four years, and did nothing. This cannot be blamed on Bush. The question must be asked, "Are you better off than you were four years ago?" I would have to admit, I am not. It also cannot be blamed on the Republicans. The House has passed many bills in a bipartisan way, but Senator Harry Reed, has not allowed any of them to come to the floor of the Senate to be voted on.
We need change, but we also need honesty. That is just my opinion.
