CBO warns of US falling off 'fiscal cliff'

May 22, 2012 | Posted by: roboblogger | Full story: Cleveland.com

A new government study released Tuesday says that allowing Bush-era tax cuts to expire and a scheduled round of automatic spending cuts to take effect would probably throw the economy into a recession.

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41 - 60 of 80 Comments Last updated Sep 29, 2012
Wade

United States

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#43
May 24, 2012
 

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Here's an idea. Regardless of political party, let's do away with congress' lifetime salary.
Do you realize how much money that would save this country?
Because congressmen get their yearly salary for life, we will never catch up to the national debt no matter how many cuts we make elsewhere.

Since: Feb 07

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#44
May 24, 2012
 
The WH has been farming phony numbers, anybody for a bailout, like Soylendra.
Robert

Hollywood, FL

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#45
May 25, 2012
 
Here in Vegas wrote:
Well this is interesting. I thought the CBO said obamacare would fix all this.
I am looking forward to obama signing another lame duck session extension of the Bush tax cuts. Watching him sign the extension in 2010 was priceless.
Are you sure it was not Obama who said Obamacare would fix all this not the CBO.

Since: Apr 12

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#46
May 25, 2012
 
Wade wrote:
<REDACTED quote>Here's an idea. Regardless of political party, let's do away with congress' lifetime salary...
Or at least insist they put 15-20-30 years into their jobs to collect any type of retirement, instead of just 5-years or so.

Does anyone else out here get to retire from their careers after 5 years?

Of course by doing that, those elected would have to make sure they are keeping those they represent happy to stay in office for that length of time, instead of chasing personal power, making sweetheart deals for their own benefit and such…
Wade

Denham Springs, LA

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#47
May 25, 2012
 

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Don-N-Kansas wrote:
<quoted text>Or at least insist they put 15-20-30 years into their jobs to collect any type of retirement, instead of just 5-years or so.

Does anyone else out here get to retire from their careers after 5 years?

Of course by doing that, those elected would have to make sure they are keeping those they represent happy to stay in office for that length of time, instead of chasing personal power, making sweetheart deals for their own benefit and suchÂ…
Better yet. Limit them to 1 term so they have to go back to their previous job to retire. Then they get to follow whatever laws they helped pass.

Since: Jan 10

Las Vegas, NV

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#48
May 25, 2012
 
Robert wrote:
<quoted text>
Are you sure it was not Obama who said Obamacare would fix all this not the CBO.
CBO said obamacare was the second coming -- for 10 years. After that --??? CBO crunches numbers based only on data submitted by Congress. That's like the fox watching the chicken house.

Since: Apr 12

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#49
May 25, 2012
 
The Congressional Budget Office has "crunched the numbers" several times for the reformed health care, and made several conflicting statements concerning it.

IF... the federal government can impose fines and penalties against individuals and employers who...

If... the federal government can mandate all people MUST buy insurance...

IF, IF, IF...

But take away one or two key components, those same components SCOTUS is currently wrestling with I believe - and should the IFs no longer apply.

Then we have a whole 'nuther set of predictions apparently.
Wade

Livingston, LA

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#51
May 25, 2012
 
In the beginning, people didn't know what a candidate looked like. They didn't have tv, Internet, or even radio. They voted based on what the candidate stood for based on a non-Biased media(a news paper). If the candidate had been in office before, the public voted based on record of candidate and what candidate stood for. Kind of a report card without tv time.
Elected Officials served their time in office and then went back to the farm, or family business and lived by the decisions and laws they helped pass.

Now, we see the smiling face of the. Politicians(regardless of party affiliation) telling lies based on what they think popular opinion is at the time. They have a crew of backers helping to spread the propaganda, fielding questions, and advising how to respond to those questions based on demographics and other criteria. They do what ever it takes to win, get their life long salary, and speak with forked tongue.
We would be sooooooo much better off now if candidates posted an Avitar image, stated their case on the problems, stated their opinion on future problems, and posted their voting record if they are an incumbent.
We should limit them to two terms. That way they get to return to society and live with their decisions and laws.
Abolish lifetime salary for politicians.
Stop coddling the cry babies. Let them compete for a job like MLK wanted in the first place.(listen to I have a dream speech) He never wanted affirmative action, set a sides, or doctored test scores.
I think that would be a great start. Anyone that wants fair non biased government would have to agree.
If you think you can trust your government think again. Ask a Native American.

Since: Jan 10

Las Vegas, NV

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#52
May 26, 2012
 
Don-N-Kansas wrote:
The Congressional Budget Office has "crunched the numbers" several times for the reformed health care, and made several conflicting statements concerning it.
IF... the federal government can impose fines and penalties against individuals and employers who...
If... the federal government can mandate all people MUST buy insurance...
IF, IF, IF...
But take away one or two key components, those same components SCOTUS is currently wrestling with I believe - and should the IFs no longer apply.
Then we have a whole 'nuther set of predictions apparently.
I say everyone should pay cash for thier own.

Since: Apr 12

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#53
May 26, 2012
 
Here in Vegas wrote:
<quoted text>
I say everyone should pay cash for thier own.
And I say that is - at best unrealistic.

But I suspect you already knew that.:)

Since: Jan 10

Las Vegas, NV

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#54
May 27, 2012
 
Don-N-Kansas wrote:
<quoted text>
And I say that is - at best unrealistic.
But I suspect you already knew that.:)
Well, it is. But the real question is why medical costs are so high. I have two reasons. First, the Gov't throws so much money at healthcare it's a supply and demand imbalance. The Gov't supplies the money, the system will demand it all get used. Second is insurance companies playing games with reimbursements. Not to mention the admin overhead. And not to mention people going to the doctor for every little runny nose.

That's why I say everyone should pay for there own.

Since: Apr 12

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#55
May 27, 2012
 
I will have to admit there are very few believable reasons to explain why U.S. health care costs are so high.

We've been told pharmaceutical and medical equipment R&D - But the cost of medicines and health care equipment actually seems less over seas.

So that doesn’t seem to make sense.

We’ve been told it is the loss of medical facilities having to treat so many uninsured and under insured people – But the government seems resistant to any measure that keep a great number of those uninsured and under insured people out of the country to begin with.

So that doesn’t make sense.

We’ve been told it is because of the “insurance companies” but even with the latest health care reforms – the problem seems to be getting worse, not better.

So that doesn’t make sense.

My thoughts on why health care costs are so high is just like the reason some auto manufacturers will price their cars at $60,000… Because they can price those things like they have been doing – and no one has told them they can’t.

That makes complete sense to me.
Wade

Livingston, LA

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#56
May 27, 2012
 
Don-N-Kansas wrote:
I will have to admit there are very few believable reasons to explain why U.S. health care costs are so high.

We've been told pharmaceutical and medical equipment R&D - But the cost of medicines and health care equipment actually seems less over seas.

So that doesnÂ’t seem to make sense.

We’ve been told it is the loss of medical facilities having to treat so many uninsured and under insured people – But the government seems resistant to any measure that keep a great number of those uninsured and under insured people out of the country to begin with.

So that doesnÂ’t make sense.

We’ve been told it is because of the “insurance companies” but even with the latest health care reforms – the problem seems to be getting worse, not better.

So that doesnÂ’t make sense.

My thoughts on why health care costs are so high is just like the reason some auto manufacturers will price their cars at $60,000… Because they can price those things like they have been doing – and no one has told them they can’t.

That makes complete sense to me.
Exactly! You go to the doctor, he has marked his bill up in anticipation of the "negotiated discount" by the insurance company. So you get a "discounted rate". Yeah right! Go to your doctor and tell him you have no insurance and are paying out of pocket. Compare the bill you receive to the one your insurance company would receive.

I'm in the medical field. I know how doctors manipulate the insurance industry. But, it's not the insurance companies that pay the highway robbery, it's us in the form of our insurance premiums.
juan

West Mifflin, PA

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#57
May 28, 2012
 
if homes did not have to pay school and county taxes .LIKE THE 5TO 10 MILLION"PUBLIC HOUSING "units that cost $150,000 each, minimum.and have not paid county or school taxes for 45 years,the amount would exceed 500 billion minimum to at least one trillion, at $2000 per home per year.plus the 750 billion to 1.5 trillion to build them, or any other costs, repairs, insurance...plus the 6% closing costs, fees, mortgage interest,,....i read that in maine the cost of new public housing was to be built at a cost in excess of $250,000 each. and the average home in maine is 150k.......In Portland, the planned 38-unit Elm Terrace low-income apartment project has a per-unit cost of $314,000, Poliquin said. He asked whether that cost makes sense when the median single-family home sells for $159,000. The Maine Association of Realtors listed the median sales price in Maine as of February at $159,450.

“Why should our fellow Mainers be asked to subsidize housing which they themselves cannot afford to live in?” asked Poliquin.
https://bangordailynews.com/2011/11/14/politi... ..........

“"Peeling Back Layers"!'”

Since: May 12

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#58
May 28, 2012
 
Remember when America was about Pride and People?

Now it's about Greed and Selfishness.

We won't survive and we will never win if things don't change.

You can only spend so much money.

Life is short.

Webcaster.
drink the hive

New York, NY

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#59
May 28, 2012
 
What's The Difference Between These Two BS Technique' Republican' & Democrat'?- When I Read About Them They Seem Nearly Identical...

http://www.jsmineset.com/wp-content/uploads/2...

Since: Apr 12

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#60
May 28, 2012
 
drink the hive wrote:
What's The Difference Between These Two BS Technique' Republican' & Democrat'?- When I Read About Them They Seem Nearly Identical...
http://www.jsmineset.com/wp-content/uploads/2...
http://www.youtube.com/watch?v =fPHdu03W1X0XX
Astute observation in my opinion, I’ve always said the difference between the two major parties, the Democrats and Republicans, is the difference of opposite sides of the same coin.

They seem to be worth and cost the same thing – just a different perspective depending on what side you have showing.

Or at least that’s my opinion.

Since: Jan 10

Las Vegas, NV

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#61
May 28, 2012
 
Don-N-Kansas wrote:
I will have to admit there are very few believable reasons to explain why U.S. health care costs are so high.
We've been told pharmaceutical and medical equipment R&D - But the cost of medicines and health care equipment actually seems less over seas.
So that doesn’t seem to make sense.
We’ve been told it is the loss of medical facilities having to treat so many uninsured and under insured people – But the government seems resistant to any measure that keep a great number of those uninsured and under insured people out of the country to begin with.
So that doesn’t make sense.
We’ve been told it is because of the “insurance companies” but even with the latest health care reforms – the problem seems to be getting worse, not better.
So that doesn’t make sense.
My thoughts on why health care costs are so high is just like the reason some auto manufacturers will price their cars at $60,000… Because they can price those things like they have been doing – and no one has told them they can’t.
That makes complete sense to me.
You would think if it were supply and demand, then more people would go into the medical field -- where the money is. Costs should come down. But they don't.

I think it's reimbursements. A $100 procedure costs $100. Insurance or medicare pays $40 and expects the doctor to eat the rest. That won't happen for long and the $100 procedure costs $250.

It's a house of cards. 20 years from now, there will be trouble.

Since: Jan 10

Las Vegas, NV

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#62
May 28, 2012
 
Wade wrote:
<quoted text>
Exactly! You go to the doctor, he has marked his bill up in anticipation of the "negotiated discount" by the insurance company. So you get a "discounted rate". Yeah right! Go to your doctor and tell him you have no insurance and are paying out of pocket. Compare the bill you receive to the one your insurance company would receive.
I'm in the medical field. I know how doctors manipulate the insurance industry. But, it's not the insurance companies that pay the highway robbery, it's us in the form of our insurance premiums.
I believe you.
thepelicanbrief scenario

Vandergrift, PA

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#63
May 30, 2012
 
CBO, SAYS FISCAL CLIFF.peter shiff says we are already bankrupt.guess who started the great society fiasco,in the 60ies. and at whose feet 60% of the countrys problems can be placed.and who benefitted ..http://finance.yahoo.com/blo gs/breakout/schiff-america-alr eady-bankrupt-

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