The Last Of The Millenniums

Just because it always has been, doesn't mean it always will be

‘CBO: ‘Fiscal cliff’ deal carries $4 trillion price tag over next decade’

vote

Here’s the vote in the House :
Aye – 172 D – 85 R

Nay 16 D 151 R
@ : http://www.govtrack.us/congress/votes/112-2012/h659

If you want to waste time, find a tea bagger and say ‘We aren’t taxed enough already because we have a $16 Trillion dollar debt’.

They will respond with ‘No, no. We are taxed enough – they don’t spend it right’.

The fiscal cliff deal is not good.

BUT – it saves us from what would be worse.

Another recession leading to World economic decline and then a Global Depression.

The rate of spending under Presidet Obama is the lowest in years and years.

Our rapidly raising debt is due to two wars that we didn’t raise taxes to pay for. A drug prescription program that we didn’t raise taxes to pay for. And a recession that is requiring larger and larger outlay of public spending to offset very human suffering combined with a massive decrease in revenue because of the decline in jobs.

Stop spending – we keep going faster and faster down the hill.

Increase spending – we add to the debt but buy time to try to fix an economic mess that has taken 60 years to build.

‘The extension of lower tax rates for a bulk of the nation’s taxpayers and the addition of a permanent patch to the alternative minimum tax would add roughly $3.6 trillion to the deficit over the next decade, the CBO said’.

‘Other individual, business, and energy tax extenders would add another $76 billion’.

‘The extension of unemployment benefits would cost roughly $30 billion, and the so-called “doc fix” would tally another $25 billion through fiscal 2022’.

‘The CBO says the budget agreement will lead to an overall increase in spending of about $330 billion over 10 years’.

‘The combination of tax hikes and spending cuts that make up the fiscal cliff — if allowed to proceed — would improve the nation’s deficit, but economic experts on both sides warn its dramatic impact would push the nation back into a recession if allowed to take effect in 2013’.
From : http://thehill.com/blogs/on-the-money/economy/275095-cbo-fiscal-cliff-deal-carries-4-trillion-price-tag

 

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