Washington's positive tone cheers Wall Street for a day

Comments (4)
BlueOkie wrote:

We headed toward the fiscal cliff in 2000. We accelerated in 2004, 2008 and again in 2012. We reelected the bums. No one to blame but us.

Nov 16, 2012 10:07am EST  --  Report as abuse
Harry079 wrote:

Slip sliding away…slip sliding away…the more your near your destination the more your slip sliding away.

Nov 16, 2012 10:13am EST  --  Report as abuse
ChuckK wrote:

“Fiscal cliff”… Sounds really bad, doesn’t it? Thanks to Ben Bernanke, Americans are afraid. He’d told us that going over that cliff means a recession. True, it would.

But, on the other hand, continued deficit spending would “lead to larger negative effects on GDP and GNP and to larger increases in interest rates… Ultimately, leading to federal debt that would be unsustainable both from an economic and from a budgetary perspective.” (CBO Economic and Budgetary Outlook, Aug 2012)

From a political standpoint, borrowing more money to fund economic growth today, would make voters happy in the short-term, but screw us all in the future. From a logical standpoint, going over the cliff and getting our gov to spend within its means, would make voters unhappy today, but at least they could look forward to tomorrow.

Pay me now, or pay me (a lot more) tomorrow…

Nov 16, 2012 12:16pm EST  --  Report as abuse
jrj906202 wrote:

They will just kick the can down the road,as usual.The real cliff will come when no one wants our debt or Dollars.Then watch the crash.

Nov 16, 2012 12:17pm EST  --  Report as abuse
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