Senate leaders to make last-ditch "fiscal cliff" effort

The Republicans are holding us hostage — it is kind of a last ditch suicidal effort on their part — since they are unlikely to be reelected — like going out in a blaze of bloody glory!

All this theater to just kick the can down the road, actually pretty good theater and I hope the partisan hacks on both sides have the good taste to stand and applaud..you know, before they understand.

..season tickets to this theater – priceless

McConnel’s idea of a preventable crisis is eliminating social security and medicare without any additional revenue.

As an American, I am ashamed of President Obama and Congress for not having the will to do what is right for America and the American people on addressing the “fiscal cliff” and the budget deficit. History will remember this era as the start of decline of America as a great nation and its resultant decline in world society. As recession overtakes America once again with rampant inflation, some Americans will praise Obama while the 48% who tried to pull the reins on him will know they were right in their assessment of dilusionary leadership and charlatan behavior. The same ones who wrote off the idiocy in Congress.

I think they are doing what their perception of what is right for America includes. Raising taxes, building a government dependent populace, cutting the military all fits very well with the plan. This is what people voted for, whether they knew it or not.Obama is famous for making himself clear.
It is easy to see from the comments that we are a country very divided between government socialism and capitalism, liberalism and conservatism. The constitution and rule of law are quickly becoming ambiguous and subjective. It can all change. It’s never hopeless.

Obama has McConnel’s and Cantor’s gonads in a vice-like grip and will squeeze them after the GOp “NO” vote on Sunday night. Boehner will probably show up drunk and cry.

Unless they hash together a half-baked plan and sign off in an act of midnight madness, I don’t see how they can “avoid” this “fiscal cliff” any more. I still think this is going to go right down to the deadline, even if only for political reasons (mental inertia, pride, brinkmanship etc.)

Surely by now, the immediate drop in value has already been priced in to the market?

May we help the people who, having been kicked in the teeth by mispropriety at the banks/ insurers/ mortgage administrators; get their employment support allowances clawed back now, in the current market that makes beggars out of honest men…

Long-term, I’m personally getting more convinced that a reversion to Clinton-era tax rates would be good for America; but we have to do something about the immediate details.

I am concluding that many of the commenters here have no idea what the so called fiscal cliff actually includes.
There is very little honesty from either party and the democrats, at least for now, are winning the PR battle.
It wasn’t all that long ago the world was going to end because of George Bush.
With the fickle finger of fate, austerity is a dirty word. More government is the savior. Ten Years After: tax the rich, feed the poor, til there are no rich no more.
Most of the very wealthy do not need to take an income. Most of this whole argument is irrelevent and contrived

Reid’s carefully weighed and thought statement must be one of the most damning on US economic scenario in 2012, predicting bluntly that plunging over the cliff seems inevitable. What an anti-climax. How disturbing.
Is congress sure there is no way out? Absolutely? What a pity. (mtd1943)

Its also the last chance for all of Americas politicians to restore their credibility with the American electorate and its a good bet that that remaining credibility is going out the window permanently this time. One obviously can only stomach so much incompetence from 535 self absorbed, partisan representatives of the people.

It will be interesting to see if House GOP little boys can stay focused and work for an entire week. I bet not not. Spoiled little tyrants who flap their lips continually about the takers, but can’t work a full 40 hour week. These eunuchs have put in less time for their pay than most any Americans, pathetic little naked emperors, led by the biggest drunk in Congress, Boehner and “let them eat cake” jet black hair dye mass consumer, Cantor.

No matter what may transpire on the Fiscal Cliff Show, we’ll soon be back for another episode of The Debt Ceiling.

America loves crime shows, so The Debt Ceiling Episode 2, with the taking of the entire nation hostage by the Republican Gang Overlord Party, will certainly get high ratings.

Of course Americans blame the Republicans who have morphed into a party of the Rich. They used to be patriotic but now they think only of party politics and disregard what is good for their country.

Neither side ever had an incentive to reach an agreement. Doing so would’ve been regarded as waffling to either of their uncompromising constituencies. Better to let the automatic “trigger” take effect on Jan 1st. That way everyone gets to blame their side of choice and no one has to take responsibility for anything. Welcome to your new America.

Americans really don’t want to suffer with more taxes, no unemployment benefits, and the likely cost from another Republican driven lowering of the U.S. credit rating. But, they have to consider that it has been the conservative Christian right and their elected Republican thugs that have given them high unemployment from their “no regulation” stance in causing the 2008 financial crisis and the 2007 real estate collapse. They have given the U.S. policies on torture which no other civilized society is willing to accept. How can that be Christian? They have given Americans 2 unfunded boots-on-the-ground wars. Ostensibly to support the defense industry which physically resides in Republican supported states. They have given taxpayers a costly TARP program to support Wall Street while corporate effective tax rates stand below 14%. They have costs Americans billions in current and future interest costs from the Republican threats of a 2011 credit default. The list goes on. Conservative Christians and their Republican thugs will continue to push their policies down the throats of Americans until they finally say no. Believe me, Americans must just say no to these thugs. If they do, things will get better. If they don’t, then America will continue down the road towards economic and social failure.

I find it curious that the Republicans who were financed by big business now act so anti-business.

Republicans = anti democracy anarchists.

House GOP couldn’t pass a tax increase – a trade off for significant entitlement cuts – that only affected 0.18% of American taxpayers (those making over $1,000,000). Their balanced approach is getting rid of Social Security and Medicare (if not today, tomorrow) and cutting taxes on corporations and the wealthy as the middle class fades into oblivion – forget the poor, their goose has been cooked for years.

And in my neighborhood, all the righteous free-market capitalists, who walk their dog in a gated community with a Smith and Wesson, live of Social Security disability benefits, rack up thousands of dollars a year in Medicare billing, are the most belligerent supporters of cutting entitlements and overthrowing the “socialist” government. And it’s that kind of disconnect between their creed and their personal behavior that’s the most frightening feature of our new reality – they’re on a Kamikaze mission to eliminate their own standard of living, their own financial security, their way of life. And in some strange way, they think all the draconian cuts they’re advocating won’t affect them…

“Dream along with me, I’m on my way to the stars!”

Mid terms are coming,I am betting the republicans will lose their majority in the house over this whole debacle.

Mid terms are coming,I am betting the republicans will lose their majority in the house over this whole debacle.

It would be nice if the Republicans could see how great Grover Norquist has been for their party and our country. Them selling their souls to him has now gotten us the decline of our credit rating and now the fiscal cliff. They are so willing to take away from unemployment, social security, medicare, medicaid but for heavens sakes, don’t touch those Bush Tax Cuts! Those tax cuts were never meant to be permanent to start with and were given to the richest when the economy was good. They never should have continued during two wars and a recession. If these guys can not “grow some” and dump Grover Norquist, their glorified lobbyist, they will drag their Party down to tubes. There are some good Republican Senators and Congressmen but they are becoming hard to find.

Ok
We have government representatives who even though elected as government representatives to part of the US government by the people of the United States have signed a contract with a non-elected person who is not part of the government of the US swearing to follow this persons beliefs.

Now these same elected representatives although taking vows to the contrary sworn in by the US will vote on decisions which could effect the standing and welfare of the US government and its people not in the interest of their country or those people they represent bur according to the wishes of a private non elected individual because of said contract they they signed with a private party.

I think that this sounds to me like treason on the part of the congressional elected officials who continue to work for this individual instead of the people that they were sworn to represent.

I think all of the congressmen who signed Grover Norquist agreement and continue to follow the rules of the agreement they signed to the detriment of the US both nationally and domestically should be charged with treason and jailed in the US.

After all do we know that Norquist is not someone seeking the ruin of our democracy by subverting our elected representatives to vote on measures to the detriment of our great nation. Has this person subverted a portion of our government through monetary threats based on a document that our own leaders have signed.

the gop is in the business of government. the big lie is that government has a responsibility to business. in fact, the government isn’t a business or a religion. it’s a service provider. with the power to do whatever is necessary to provide that service, be it the draft or taxation. the debt ceiling is phony. the fiscal cliff is phony. business and religion (business is a religion. money is god.) have no place in the government. protecting the health and welfare of the citizens is the only responsibility the government has. the only reason to exist. take away all government subsidies for businesses and the rich and see if they would rather be taxed. the money has to come from the people who can live without it. and, balancing the tax hike with spending cuts is another lie. apples and oranges. there’s no connection. it’s that simple.

It is President Obama who has the responsibility to lead this process – Not dictate it. To open a negotiation to reduce our insanely huge deficit by demanding no spending cuts and only increasing taxes on incomes above a contrived level is not effective leadership behavior. He should have helped this happen a long time ago. This situation is his making.

Dont fall for the Left/Right BS. They are all responsible for this mess, and they are playing us as fools.

“Fiscal Cliff” put in a much better perspective

Lesson # 1:

U.S. Tax Revenue: $2,170,000,000,000
Federal Budget: $3,820,000,000,000
New Debt: $1,650,000,000,000
National Debt: $14,271,000,000,000
Recent Budget cuts: 38,500,000,000

Let’s now remove 8 zeros and pretend it’s a household budge:

Annual family income: $21,700
Money the family spent: $38,200
New debt on the credit card: $16,500
Outstanding balance on the credit card: $142,710
Total budget cuts so far: $385

Got it?…. OK now…

Lesson # 2

Here’s another way of looking at the Debt Ceiling:

Let’s say you come home from work and find there has been a severe backup in your neighborhood… and your home has sewage all the way up to your ceilings. What do you think you should do?

Raise the ceiling or remove the sh**?

The president grabbed the fiscal football working the ground game against the GOP. The GOP has tried 2 Hail Mary Ryan budget passes that were both ruled out of bounds, tried to extend the Dubya tax cuts with a post pattern that was batted down by the Senate. The GOP tried a screen over a million pass hoping their middle class lineman would roll over the EIC low income cornerback but their House receiver dropped the ball. The president tried a slant over the middle class raising the taxable income to $400,000 having a COLA option with Boehner rejecting that try. After the New Year some big players on Wall St. come onto the playing field and will force the ball over the fiscal cliff goal line. This will happen right after Boehner is voted in team captain again.

All I want is a compromise where both sides appear before the media with fried egg faces. I think that is what the rest of the country wants & expects.

I remember a few weeks ago a bill passed that requires the military to buy alternative source fuels even if it is more expensive than the comparable fossile sourced fuel. Now let’s get serious about spending and deficit borrowing.

Right now this country is on a federal credit card binge with no forseeable credit line. The administration even wants to name its own credit line. We have to get spending under control or no amount of tax increase will be enough.

I suspect that Beltway Repubicans are of similar stripe as Beltway Democrats when it come to maintaining “Big Government” and its myriad cubicles. It’s just a matter of degree. To its credit I think the House has offered some viable options but it is apparrent that the administration will not accept anything lacking the purely punative tax-the-rich provision, or anything that reduces spending in the timeframe of – NOW!

It’s all the Republican’s fault! It’s Bush’s fault. We should have an interactive map showing the names and address’s of all Republicans and who they voted for! Remember, Repub’s have been in control of the house and senate for the last 50 years.

The House has already passed two bills that would avoid the fiscal cliff, but Harry Reid will not allow the Senate to vote on them, because the bills don’t fleece people who make over $250k (which by no means can be considered “rich” in some parts of the country with very high home and apartment rentals prices).

I think the House should just quit negotiating, go home, and let Obama and Harry Reid own the fall over the cliff.

Actually the fiscal cliff looks like the ONLY way we’ll ever get any spending and deficit cuts. Obama is so full of bull claiming that reduction in spending GROWTH is a cut. Any idiot knows that since the deficit continues to accelerate under Obamanomics with taxes going up too, that means that spending is increasing.

I’ll tell you another thing Republicans should NOT do – they should not pass a debt limit increase, under any circumstances. A debt freeze would mean that Big Bird won’t get a free ride anymore, and would force several Federal agencies to have layoffs – but despite Obama’s ridiculous threat to stop Medicare and Social Security checks, that would not be necessary if he laid off some non-essential Federal workers, didn’t replace retired workers, cut Foreign aid of non-loyal countries, cut the salaries of all Federal workers making over $100 (including his own salary and the salaries of Congress), eliminated subsidized Federal Retirement funds and require them to fund their own private IRA or 401k like the rest of us have to do, and put Federal workers and Congress on Obamacare like the rest of us and canceling all their “Cadillac Medical Insurance”, then Seniors would not have to give up a PENNY of benefits, and neither would we loose essential Federal services like the Passport office, criminal justice services, food inspection, etc.

What we WOULD loose are a bunch of agencies that exist only to give away money like the Dept of Education (states should pay for their own schools anyway); a big chunk of Homeland Security, the part that exists only to give grants to cities that could buy their own fire trucks and other equipment; agencies like the EPA which used to do a lot of good, but has also brought us spectacular failures like mandates to put the toxic MTE in gasoline to reduce smog but it has poisoned every lake and groundwater system in North America, and other course the huge Ethanol boondoggle that has caused food prices to rise because it diverts corn to replace dead dinosaur juice. Personally, I think I’d rather burn dead dinosaur juice in my car than a valuable food crop.

The fact that Obama has threatened to protect government workers before he protected Senior Citizen’s already meager Social Security checks is just shameful beyond all words, but of course he has no shame – everyone else is to blame, as far as he’s concerned. Putting government ahead of all else shows how morally bankrupt and narcissistic the REAL Obama is.

I hope the President promises Congressional leaders today that they will see Teddy Roosevelt reincarnated out there in Rough Rider form if Congress doesn’t wake up and help the country’s economy instead of renaming post offices and blocking appointments.

Our 2 party system of government is no longer viable.

It will be worth “going off the cliff” to get rid of the anti-democracy anarchist Republicans in Congress. Americans have always had to sacrifice to protect our freedom. This is no different. We will sacrifice, and the Republicans will become meaningless, and our freedoms will be saved.

hahaha you re-elected him so enjoy it! Something about “things are getting better” that just may not have been very true!!

Both parties might view the bottom of the cliff as a victory. The Dems get big tax hikes and cuts in defense while the Tea Party gets substaintial cuts across the board (except entitlements).

The losers are the American people who will pay higher taxes, lose progrmas funding with federal money, and still have entitlement systems that will drive up the debt.

Don’t we have to go over the financial cliff at some point anyway? Won’t this help cut the deficit in half? If it puts the breaks on big brother and global expansionism, I’m for go over. Go baby Go!!!

Ummm? Seems like only the intellectually challenged would blame Republicans on this one. The President and Democrats are championing “Raising taxes on the Rich” which equates to funding our bloated government for exactly ONE WEEK. Unfortunately, our country has a spending problem. That is, cuts must be made. The obvious choice…an across the board 15% cut to all employees, programs, and of course, salaries for EVERY GOVERNMENT AGENCY…NO EXCEPTIONS. This is not brain surgery, just simple economics.

The majority of Americans voted in a democratic election for Obama’s plan on the fiscal cliff issue, and against the Republican plans. Am I missing something here?
People (Republicans, talks how hosts, their followers, Obama haters) who cannot accept the results of a democratic election, are simply anti-democracy anarchists. They are the reason we must never give up our right to own firearms.

It’s a game, folks. First we all get a tax hike, then we all get a tax cut (except the richest 2 %). The only reason to worry is if the House GOP loses its collective mind and refuses to play. Hey, Tea Party, listen up: 2014 is coming!

We have a spending problem not a tax problem. We need to stop spending. Whatever happens hard working Americans will pay UN-productive Americans will continue to benefit with “free” stuff.

o’bama never really wanted to avoid the cliff and still doesn’t. He wants to blame Republicans, who seem eager to play o’bama’s scapegoat.

As soon as o’bama has established in the mind of the 51% that Republicans will have caused whatever happens during 2013, a deal will be reached (assuming Republicans don’t choose option #1 before then.

If we see a mushroom cloud we know some progress has been made.

What the hell are we doing? Seriously of all the things to be worried about and all the problems needing to be tackled the debt is not one of them. Know why? We have our own currency and the free markets know this. That is why the federal government can borrow money for 10 years at a 1.75% interest rates. Anybody who told you three or four years ago that all this government debt was going to push borrowing costs up should not be listened to.

The infrastructure, environment, gun shootings, mental health and physical health care, free and open use of the internet, agriculture, technology and trade, labor rights. We have lots of stuff needing to be done and lots of unemployed people needing work. So lets put the unemployed to work doing the things that need done. Come on Congress, focus on the real problems and not your manufactured ones.

…and the Democrats idea is to cut 400 billion and spend 800 billion more….cut?????

I wonder when the GOP is going to wake up and start working for the American people! Their going to take us over the deadline, get the credit of the US downgraded again, costing us much more to borrow the money so desperately needed. Also those longterm unemployed are going to have to go without ANY income. The article says that they can/will reinstate benefits retroactively, but at what cost? The States will have to send out notices, change computer systems etc, only to have to redo all of it in a couple weeks? Most of these people they want to take away from live paycheck to paycheck! All for what? So millionaires don’t have to get taxed @ 2001 rates? They ought to be ashamed, as should anyone who voted for them!

@Seven2012: Kudos for the (rare) level-headed post. If people are not serious about solving the real problem, this “fiscal cliff” thing is just another episode in the drama of “living beyond the means”. Shall we hope for it to finish soon, or go on forever?

Both sides have what they want. Democrats have their tax increase. Republicans have their spending cuts. What is there to negotiate?

@Seven2012: At 6% our annual interest payment is about 40% of total tax income. At the current rate of deficit within 10 years we 100% of tax income will have to be paid as interest, and the discussion of default will be meaningless. Did I get this picture right?

We face a perfect storm. On the first of the year rich Jews wage war on White Christians by attacking a belief sacred to most of us. The right to own and bear arms is as sacred as Easter and Christmas. At the same time millions of whites will lose extended unemployment which ends with the fiscal cliff. The federal debt limit is reached at the same time. Rich liberals continue to encourage illegal immigrants to take our jobs. Welcome to Civil War II. May God have mercy on your souls, most of us won’t.

I’m not sure I would believe Barry “Pants on Fire” Obama on anything. Does anyone remember the promise for transparency or “change you can…” etc.

“With taxes on all Americans set to rise”
Not really. The people who will take the biggest hit in their paychecks ( SS deductions, taxes, etc.) will be the working class. Anyone making over $102,000 will not even have an increase in SS deductions unlike those making less who will have a 33% increase.
People making $40,000 will get hit with a 5% tax increase, but people making over a million dollars will only get hit with a 1.3% increase, people making over 10 million will get a .13% increase in taxes and billionaires will get a .013% increase in income taxes. The poorest will lose 4% of their below poverty level minimum wage income. 3 million people will lose unemployment income. Most of the budget cuts will affect the needy, the elderly, and the poor.
This whole fiscal cliff thing hits people making less than $100,000 and really does nothing to the wealthy, which is why the Republicans voted for it, and why they are willing to let it happen.

wildabeast: How can you possibly use a Ten Years After song to suggest that by raising taxes on the wealthy to 39.6% that we’ll be taxing the rich out of existance? Do you have ANYTHING to back that up with? No, you don’t. Did that happen during the Clinton Presidency, when taxes on the wealthy were at that same rate, 39.6%? No. The rich got richer. Much richer, in fact. Did it happen during the 40s? The 50s? The 60s? The 70s? When taxes on the wealthy were much, much higher than 39.6%? No. Actually, the country thrived. We were the envy of the world, and the Republicans, today’s Republicans, hated what we were when we were strongest. Now taxes on the top tax bracket are at 35% and we are no longer thriving, and yet this is the route you prefer, the path where America no longer thrives. There’s something seriously wrong with that. People like yourself are determined to change this country into something it’s never been, a form of feudal system where 99.9% of the people live at the behest of 0.1% who will own everything. I sure hope you don’t get your way, and that’s the fight we see going on in Washington. But take heart, because you have an advantage. The Republicans are representing the class that represents the feudal lords, the plutocrats who own most of the nation’s wealth and have bought out our government. It’s hard to go up against them when they own the government. The only reason they’re having a tough time is that they’re so obviously wrong and the majority of people can see that. The President and the Democrats’ only advantage is that the masses are on their side, but their hands are still tied because of the power of the plutocrats over our government, and there is still a large segment of our society who have been convinced to back the Republicans regardless of what they do, no matter how extremely stupid they prove to be. Shame on you for your inability to think for yourself. You can’t really be free unless you learn to be a free thinker. The plutocrats also control the vast majority of information sources that we rely on. They have a big advantage and will probably end up succeeding in breaking down this country so that they have us working for them like serfs while they continue to control the wealth and have us fight their wars for them. It’s ours to decide.

President Obama is holding the middle class as a shield against a damaging analysis of his borrow and spend agenda. The President’s ‘tax-the-rich’ plan will generate $80 Billion annually in new revenue — while he borrows $80 Billion a day to spend us into a Zimbabwe like economic melt-down. On top of that nonsense he piles other unreasonable demands like having Congress give him the power to raise the debt limit at will. It is Obama who does not want a deal — and he will point the finger for the failure at Republicans in Congress. Unfortunately, it will not take and he will receive the blame when (not if) the economy tanks.

The Senate has not passed a budget in years, neither have they agreed to vote on a White House budget for some time. The Senate has not taken notice of budgets from the House of Representatives since 2010. The foaming at the mouth progressives are incapable of honesty. The truth is that the government, and their cronies in the financial sector, have been in a sweaty hurry to loot as much as they can from the future of America without a care. For they see us as their feeble minded serfs, and from their public education system they are enforcing that idea.
I have no king but Jesus the Christ who is the way, the truth and the life.

The wealthy really just have to kick in! It’s that simple!

Obama won’t come off his 250K number, won’t deal at all and it’s the Republicans getting the blame. This is just more of Obama playing the my way or no way game, then pointing the finger across trhe aisle with the MSM at his side. Pathetic. Whatever blame there is lies squarely on Obamas shoulders. This is HIS baby.

For what it’s worth, I say JUMP!

@Seven2012: Well put so that even a moron could understand. Unfortunately, not too many in government meet that minimum standard (or even the electorate for that matter).

This is typical Washington BS. Boehner needs to first go have a good long cry, then grow a set of balls. There has not been a budget in 5 years. It’s really more simple than most morons think. The Congress(house) is responsible for all spending. So just create and submit a budget to Buckwheat in the Whitehouse. If he(Buckwheat) and his fellow flunkies refuse to pass and sign it, just SHUT DOWN THE GOVERNMENT, NO MORE PASSING CONTINUING RESOLUTIONS!!!. Hey I’m just a racist white guy which means I get nothing from the Government other then them stealing my money and then telling me what I can and can’t do. They can all go to hell.

So how about a “Congressional Pay Cliff?” Obama could sign an executive order prohibiting any federal pay to a member of congress or their staff members until the “Fiscal Cliff” is settled and passed into law. Might be better than the standoff we’re in now. Shameful.

This is typical Washington BS. Boehner needs to first go have a good long cry, then grow a set of balls. There has not been a budget in 5 years. It’s really more simple than most morons think. The Congress(house) is responsible for all spending. So just create and submit a budget to Buckwheat in the Whitehouse. If he(Buckwheat) and his fellow flunkies refuse to pass and sign it, just SHUT DOWN THE GOVERNMENT, NO MORE PASSING CONTINUING RESOLUTIONS!!!. Hey I’m just a racist white guy which means I get nothing from the Government other then them stealing my money and then telling me what I can and can’t do. They can all go to hell.

What a bunch of wankers, all of them. Fiscal Cliff, herding you like the American Buffalo. No budget produced for 4 years??? Irresponsibility government. When government becomes dysfunctional, and the people do not have the will or means or social structure to correct it; guess what happens? The People should be outraged, but your too busy waiting in line at Knots Beery Farm…..Good Grief

reading thru these comments,,,the Repubs this, the Demorats that…..you’re all stuck in the left/right paradigm supporting the very lunacy you protect…..bhaw… hahaha…what did Lenin call you…oh yeah…useful idiots….. to the dog n pony show..sheeple

Raelyn you don’t know what you’re talking about. The Dems and Reid aren’t holding us hostage? Obama isn’t? Typical leftist; do it our way or you’re not a real American!

There is a perfect storm, millions of whites lose extended unemployment when we go over the fiscal cliff. Federal debt hits the limit Dec 31. Rich Jewish liberals open an all out assault on White Christians with gun ban bills. For most whites the right to own and bear firearms is as sacred as Easter an Christmas. Count the Jews: Soros, Bloomberg, Feinstein, Lautenberg, etc.

Senate leaders decide to ‘friend’ fiscal cliff on Facebook, hope for the best.

Update: Fiscal cliff now posting pictures of pancakes and cats. Sky holding steady, not falling yet.

Let’s leap the fiscal cliff. I am against raising taxes, but am 100% for any spending cuts possible that the government must do. Once spending is cut, the taxes can be cut again later when the surpluses kick in. We need to take away as much money from the government as possible. Money to the government is just more power to big bankers and corporations. Take away that power and you will have back a stable economy and less corruption.

Worst things about any Fiscal Cliff agreement…. 1) Extending unemployment benefits (already at 99 weeks)…. deadbeats will sponge of of it until it runs out…. I have known 42 different individuals who waited until benefits ran out… EVERY SINGLE ONE got a job within ONE WEEK!

2) Extend the FICA payroll tax cut… Simply robbing funds from the FORCED SAVINGS for retirement via Social Security. This “tax cut” is SPEEDING the demise of Social Security.

There is a clarifying table in the article at this web site… http://www.bbc.co.uk/news/world-us-canada-20856210 which shows that the income tax rate for middle class Americans in the range from $35,350 to $388,350 will increase by 3.0%… UNLESS a tax extension is reached…. $400,000 is a reasonable threshold for an extension. Those making above that level will see a 4.6% tax increase.

The phrase that caught my eye in this article was “set up a framework for a larger deficit reduction deal next year”. More postponement, more smoke and mirrors. There is only one economic class of people who really matter in this county – the middle class. The hell with the rich. The hell with the poor. Sadly it is the middle class who will end up fitting the bill. If you are employed, look closely at your pay stub. Think the Tea Party people are the problem? Think, Think again. They are truly the only group in Washington who want to SHRINK the federal government(except for some Tea Party politicians who also want a maintain a large military). Smaller government means EVERYTHING gets cut – and a lot.

I think yesterday’s commitment for Congress to meet again Sunday after the White House meeting scheduled for today portends some agreement for Monday; hence, the substantial end of day bounce in the market yesterday. Unfortunately, Obama did NOT come to bring together the Congressional participants in the meeting today. The actual meeting time was only 10-15 minutes. Obama basically said “My way or the highway,” and that was it.

If Congress passes anything, BOTH sides will be able to say to their constituents that they “did what was right for America” by passing “something.” There will be NO REAL advance on reducing the deficit in any agreement, but the Republicans will fight THAT battle when the extension of the debt limit comes up. In that fight, some entitlements WILL be cut before an extension is granted… but the extension will be granted. In essence, ignorant Americans will breathe a sigh of relief thinking Dems and Repubs are working together, and the market will briefly rally higher next week, but the start of the new year looks bleak to me.

I’m planning to go to “ALL CASH” for my investments. There appears no decent risk/reward ratio under this pathetic Empty Suit in the White house.

Mikon: You set an impossible standard for our President, which tells me that you’re really only interested in criticizing him, probably at all opportunities. He really has been very reasonable throughout his entire Presidency. Not so, the Republicans. The whole world sees that, and just over half our country. But there’s something going on with America’s rightwing that is really hard to explain. The most likely explanation is that they’re afraid that whites, and particularly white conservatives, are losing majority status here in the US. This would explain the hatred toward our current President, who hasn’t done, or tried to do, anything that past US Presidents have done, or tried to do. He’s a smart, hardworking, family man who is a political pragmatist. There’s really nothing new that he’s brought to American politics except for the color of his skin in the office he holds. However, what the Republicans have been doing IS new, and is not a welcome development in the history of US politics. Their hate-filled scorched earth politics is a very real threat to this nation, and you’ve swallowed the Koolaid. This means that it’s very, very unlikely that you’ll be able to join the rest of the world in clearly seeing what’s really going on here in the US. Your thinking on this issue will be geared, not toward the truth and what is best for most Americans, but toward how to support the Republican agenda and how to oppose everyone else. If the Republicans were allowed to have their way, the United States would become something it has never been before, and it wouldn’t be pretty, nor would we thrive as a people.

To Raelyn; The Republicans are holding us hostage? The Democrats have chartered a course of economic suicide with the national debt topping 16 trillion dollars and you have the lack of intelligence to say the Republicans are holding you hostage? Your grand children will be enslaved with debt and that’s your argument, it’s the Republicans fault? The ENTIRE government is at fault, every elected official owns this mess from past administrations to this one. Obama has NO ideas and that fruitcake has the nerve to chastize others while he was AWOL once again in Hawaii. Wake up Raelyn, and spit that government pacifier out of your mouth while your at it. If you’re riding in the wagon instead of the of the one’s pulling it, all that is going to change very soon and reality is a cold slap in the face. The Fed can’t keep on printing money because we all know it will become worthless and not worth the paper it’s printed on. Inflation is starting to creep up and soon it will stop creeping and start running. Be careful what you wish for Raelyn, you just might get it.

Yes you are crazy to think the GOP has not held Americans hostage. The so called suicide of national debt belongs mostly in GOP hands. The deficit is due to previously enacted bills before the Dems gained control of congress. The GOP handed a balanced budget cut revenues and spent like drunken sailors. They got a break in senior population with people retiring born during the great depression or WWII. Their lack of financial regulation saw us in a great recession having a death spiral economy of less demand forcing more job cuts lowering demand. The Dems passed Stimulus and payroll tax cuts to put 1 trillion into consumer hands which began a modest recovery. The Dem portion of new legislation increasing the debt the past 4 years is that one trillion. CBO scored the Feb. president Obama budget request at a 977 billion dollar deficit, lower than the 1.4 trillion deficit he inherited. When the Dems got control in 2007 they passed a CR, the GOP 2007 budget that Dubya signed. Dubya’s 2009 budget had very few changes made by the Pelosi House and he signed that budget with 3.1 trillion in spending appropriations going to 3.5 trillion with the TARP legislation. The GOP House has passed 2 Ayn Rand Ryan budgets DOA requiring CRs to run the country. They held up unemployment at Christmas to get the 2 year extension of Dubya tax cuts for over $250,000. They held up FAA funding looking to bust unions, same for contracting changes to the highway bill. The GOP lost AAA with S&P walking away from a big WH deal with 3.3 trillion in spending cuts having 800 billion in mostly loophole closing revenue. The held the debt ceiling hostage to cuts that could not be agreed to by either side forcing sequester cuts they now complain about in defense spending. They tried to extend the Dubya tax cuts cutting safety nets to the bone harming the least of us. They did it again with plan B ending the EIC, cutting Snap, cutting medicaid/medicare, cutting the child care credit to give up to a million a tax cut. Their Norquist pledged TP caucus would not even accept over a million incomes paying a bit more. The Dems have made concessions cutting spending, the GOP has made none raising revenue. The GOP is intent on protecting people that don’t need help at the expense of people that do need help. Gallup polled people on the handling of the fiscal cliff, the president came in at 54% approval, the Dems in congress at 45% approval, the GOP in congress at 24% approval. This congress has only had 219 bills signed into law, many of the naming of PO variety. They are the least productive congress in most people’s lifetimes earning their 12% approval rating. The GOP lost the 2012 election badly with no Dem incumbent in congress losing their seat. They did even worse at the start of the great recession in 2008. Boehner does nothing his House will turn blue in 2014 with a new mainly GOP initiated recession. Whether not going off the cliff, not losing AAA cutting 4 trillion in long term debt, passing an agriculture bill, passing relief for hurricane Sandy this current GOP is not up to the task they were voted in to do.