Bungee Jumping that Fiscal Cliff

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11-13-2012, 07:16 PM
Cedric

Bungee Jumping that Fiscal Cliff

Both sides are going to posture and blame the other side for being obstructionists. Neither side is going to suggest compromises that the other side finds reasonable. Obama is going to be no better at that at the end of 2012 than he has been during the previous four years as his idea of compromise has always been "My socialist way or the highway."

But I am fairly certain that after all the posturing and grandstanding and finger pointing is said and done a last minute compromise of some sort will be rammed through the House of Representatives . . . and then the Senate will have to play with it a bit as well.

What will things look like in the end? It's anyone's guess but I suspect that Obama will get his meaningless increase of taxes on people earning $250,000 and above. But then again the Republicans will probably get something in return that they want . . . and Obama and the Democratic leadership will not want to give it. But what will those Republican leaders want? I can't even begin to guess. But I doubt that they will get more than one big gimme in this deal.

Why will some sort of compromise deal be reached just in the nick of time? Because neither side will want to go down in history of shoving the nation over that cliff and kicking off a major new recession while hitting all citizens very had indeed in their pocket books.

So there will be a great deal of posturing with bungee cords attacked to ankles, but it's highly unlikely that anyone will ultimately go splat . . . nor the nation itself for that matter.
11-13-2012, 07:32 PM
Deadwood

Quote:

Originally Posted by Cedric

Both sides are going to posture and blame the other side for being obstructionists. Neither side is going to suggest compromises that the other side finds reasonable. Obama is going to be no better at that at the end of 2012 than he has been during the previous four years as his idea of compromise has always been "My socialist way or the highway."

But I am fairly certain that after all the posturing and grandstanding and finger pointing is said and done a last minute compromise of some sort will be rammed through the House of Representatives . . . and then the Senate will have to play with it a bit as well.

What will things look like in the end? It's anyone's guess but I suspect that Obama will get his meaningless increase of taxes on people earning $250,000 and above. But then again the Republicans will probably get something in return that they want . . . and Obama and the Democratic leadership will not want to give it. But what will those Republican leaders want? I can't even begin to guess. But I doubt that they will get more than one big gimme in this deal.

Why will some sort of compromise deal be reached just in the nick of time? Because neither side will want to go down in history of shoving the nation over that cliff and kicking off a major new recession while hitting all citizens very had indeed in their pocket books.

So there will be a great deal of posturing with bungee cords attacked to ankles, but it's highly unlikely that anyone will ultimately go splat . . . nor the nation itself for that matter.

I'd say that's pretty accurate...and it WILL be eleventh hour, depends on who is allowed to be seen the "champion" of the day.

The Republicans will get tax cut extensions which are due to expire with Obama's exception and I suspect it will cost the White House some other goodies, like the Keystone pipeline and things like that.
11-13-2012, 07:40 PM
Cedric

Quote:

Originally Posted by Fearandloathing

I'd say that's pretty accurate...and it WILL be eleventh hour, depends on who is allowed to be seen the "champion" of the day.

The Republicans will get tax cut extensions which are due to expire with Obama's exception and I suspect it will cost the White House some other goodies, like the Keystone pipeline and things like that.

I think that the tax cut extensions for citizens earning less than $250,000 is an automatic given for both sides . . . as that would be the very thing that would send citizens into the streets howling for the Left and Rightwing blood of politicians were they to fail to extend that item.

The keystone pipeline deal is interesting because if not for environmentalists who Obama needed in order to help him get re-elected then he would have signed off on that last year. So if he can make the environmental fanatics believe that the Republicans unmercifully twisted his arm to force that deal then that would be great for Obama and make the Republicans look good as well to the right.
11-15-2012, 05:57 PM
waltky

More likely to be a last minute compromise - or 'kick the can down the road'...
:huh:
THE RESET: Fiscal cliff politics a risky game
15 Nov.`12 - Democrats and Republicans seem determined to skate perilously close to the edge of the year-end "fiscal cliff." They're sticking to their guns for now while offering just enough wiggle room to hint at a last-minute compromise.

Quote:

It's just a matter of who blinks first. Both sides have aggressively laid down opening demands for budget talks that begin Friday at the White House. President Barack Obama would raise taxes on households with annual incomes over $250,000. Republicans wouldn't — and insist federal deficits must be restrained mostly by federal spending cuts, including benefit programs.

Neither side wants to see the government go over the cliff on Jan. 1, when a mountain of tax breaks expire and automatic spending cuts kick in, absent congressional action. That could hurl the economy back into recession. "I'm open to new ideas," said Obama, fresh from his re-election victory. House Speaker John Boehner sees a new "spirit of cooperation."

Thus, Republicans say they could accept some increase in tax revenues — but only by trimming deductions and loopholes. And Democrats are OK with more spending restraint — so long as benefit programs like Medicare and Social Security are protected. It's a dangerous game.

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