Durbin: "Fiscal cliff" solution unlikely before election

Jul 29, 2012 Full story: Reuters 51

The U.S. Congress is unlikely to resolve looming tax and spending issues before the November 6 elections, a top Senate Democrat said on Sunday, but lawmakers are working on a proposal to tackle the issue after the elections.

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Cat74

Westmont, IL

#1 Jul 29, 2012
The Democrats must show Americans they are doing something to solve out economic problems before the election, reduce regulations, something, or they lose, big time. It is too bad they passed up the Keystone project. That would at least appear they had a solution somewhere. Now China has it, and stupid Americans will be buying their gas from China. That is the Obama Democrats way.
questioner

Llano, TX

#2 Jul 29, 2012
from the article,{comments}: "Unless Congress acts, across-the-board income tax cuts are set to expire {dems win} on December 31, and deep, automatic spending cuts of $1.2 trillion {repubs win} over 10 years are slated to begin on January 2."

Its a win win {except for you and me}

Since: Nov 08

Paris

#4 Jul 29, 2012
questioner wrote:
from the article,{comments}: "Unless Congress acts, across-the-board income tax cuts are set to expire {dems win} on December 31, and deep, automatic spending cuts of $1.2 trillion {repubs win} over 10 years are slated to begin on January 2."
Its a win win {except for you and me}
They better do something, Biden has already morgaged his hair plugs to pay for another $364 dollar donation to charity.

“Sustainability Now!”

Since: May 08

Vadnais Heights

#5 Jul 29, 2012
The looming problem is that the impending spending cuts are a form on European-style austerity, which has been PROVEN not to work -- it reduces aggregate demand for goods and services.

When economic indicators begin going down, conservatives will naturally blame the tax increases -- NOT the actual cause of spending cuts. Tax cuts have proven repeatedly over the past 10 years NOT to stimulate any growth, just rapidly increase the deficit and cumulative debt.
Robert

Hollywood, FL

#6 Jul 29, 2012
Madaman wrote:
The looming problem is that the impending spending cuts are a form on European-style austerity, which has been PROVEN not to work -- it reduces aggregate demand for goods and services.
When economic indicators begin going down, conservatives will naturally blame the tax increases -- NOT the actual cause of spending cuts. Tax cuts have proven repeatedly over the past 10 years NOT to stimulate any growth, just rapidly increase the deficit and cumulative debt.
Stimulus has been proven not to work, you cut taxes and spending at the same time is what you do, government it taking too big a bit out of the apple.

“"I'm A Great American!"”

Since: Sep 08

Obama Nation! USA! USA!

#7 Jul 29, 2012
Robert wrote:
<quoted text>
Stimulus has been proven not to work, you cut taxes and spending at the same time is what you do, government it taking too big a bit out of the apple.
That's what Herbert Hoover did. That worked out VERY well, eh?
Cat74

Mchenry, IL

#8 Jul 29, 2012
What ever Obama thought he could do it has been a complete failure. Last quarter after years of Obama's solutions growth was at 2%. This quarter growth is at 1.5%. We are in reverse. We need new ideas, new solutions. Maybe Romney isn't the best man for the Job, but he is a better man for the job then we have today. Obama has proven that after 4 years of accomplishing nothing. This is no job for on the job training as Biden said years ago about Obama.

“Sustainability Now!”

Since: May 08

Vadnais Heights

#9 Jul 29, 2012
Robert wrote:
<quoted text>
Stimulus has been proven not to work, you cut taxes and spending at the same time is what you do, government it taking too big a bit out of the apple.
Sorry, but the 2009 stimulus DID work -- it stopped the loss of hundreds of thousands of jobs PER MONTH. Later revised figures show that the economy was VASTLY worse than thought in 2009, meaning that a larger stimulus was needed than planned. It wasn't big enough, but it DID prevent unemployment from going about 2 percentage points higher.

Historically, WW2 was the largest economic stimulus in history! THAT ended the Great Depression.

I wish conservatives were not so totally Fact-averse -- anyone without ideological blinders can see that the Bush Lite tax cuts have given NO stimulus at all, have simply added TRILLIONS to the national debt. Naturally, Mitt & the boys want to cut even MORE taxes -- beyond maintaining the Bush Lite cuts.

There is Orwellian irony present, as the same players that advocate for a balanced budget ALSO favor tax policies that will add TRILLIONS to the deficit! The Ryan "Plan" and Bishop Romney's tax code "fix" will EACH add TRILLIONS to the debt -- and they simply can't wait to pass them. This is total fiscal insanity!
Robert

Hollywood, FL

#10 Jul 30, 2012
PooPoo Platter wrote:
<quoted text>
That's what Herbert Hoover did. That worked out VERY well, eh?
I can tell you studied history in a government school. Hoover raised taxes, the tax rate went from 25% to 63%. It was Coolage who cut taxes, kept federal spending down and retired 1/4 of the federal debt. Only rich people had to pay income tax, the top 2% were the only ones who paid any significant taxes. Not that any of it matters to your inference regarding the great depression, tax policy had nothing to do with the causes of the great depression.
Robert

Hollywood, FL

#11 Jul 30, 2012
Madaman wrote:
<quoted text>
Sorry, but the 2009 stimulus DID work -- it stopped the loss of hundreds of thousands of jobs PER MONTH. Later revised figures show that the economy was VASTLY worse than thought in 2009, meaning that a larger stimulus was needed than planned. It wasn't big enough, but it DID prevent unemployment from going about 2 percentage points higher.
Historically, WW2 was the largest economic stimulus in history! THAT ended the Great Depression.
I wish conservatives were not so totally Fact-averse -- anyone without ideological blinders can see that the Bush Lite tax cuts have given NO stimulus at all, have simply added TRILLIONS to the national debt. Naturally, Mitt & the boys want to cut even MORE taxes -- beyond maintaining the Bush Lite cuts.
There is Orwellian irony present, as the same players that advocate for a balanced budget ALSO favor tax policies that will add TRILLIONS to the deficit! The Ryan "Plan" and Bishop Romney's tax code "fix" will EACH add TRILLIONS to the debt -- and they simply can't wait to pass them. This is total fiscal insanity!
Monitory policy had as much to do with us coming out of the great depression as anything. We were mostly our of depression by the start of world war 2 and the war did finish it off. However the industrial stimulus of a world war is a lot different than Obama building sidewalks to nowhere and solar plants that fail. Bbut no doubt you are right if we start another world war we will be better off economically just not sure I want to do that.
xnutmegger

Phoenix, AZ

#12 Jul 30, 2012
Madaman wrote:
<quoted text>
Sorry, but the 2009 stimulus DID work -- it stopped the loss of hundreds of thousands of jobs PER MONTH. Later revised figures show that the economy was VASTLY worse than thought in 2009, meaning that a larger stimulus was needed than planned. It wasn't big enough, but it DID prevent unemployment from going about 2 percentage points higher.
Historically, WW2 was the largest economic stimulus in history! THAT ended the Great Depression.
I wish conservatives were not so totally Fact-averse -- anyone without ideological blinders can see that the Bush Lite tax cuts have given NO stimulus at all, have simply added TRILLIONS to the national debt. Naturally, Mitt & the boys want to cut even MORE taxes -- beyond maintaining the Bush Lite cuts.
There is Orwellian irony present, as the same players that advocate for a balanced budget ALSO favor tax policies that will add TRILLIONS to the deficit! The Ryan "Plan" and Bishop Romney's tax code "fix" will EACH add TRILLIONS to the debt -- and they simply can't wait to pass them. This is total fiscal insanity!
Yeah , Bush added $3T debt in 8 years and Obama has added $5T in 3 years...no adverse facts there.

Obama helped stop the free fall off the economic cliff but he has LEFT the economy dangling there since only inching our way back up.

Negative performance vs. all other post-war recoveries. His is in last place.
xnutmegger

Phoenix, AZ

#13 Jul 30, 2012
The Fiscal Cliff.

If the gov't follows the law it will have to send out layoff notices to thousands of Fed. employees on Nov.1-2 as the 60 day layoff notice law states.

Of course I suspect the LEFTY Regime will not follow the law as is their pattern of behavior.

Since: Nov 08

Paris

#14 Jul 30, 2012
Madaman wrote:
<quoted text>
Sorry, but the 2009 stimulus DID work -- it stopped the loss of hundreds of thousands of jobs PER MONTH. Later revised figures show that the economy was VASTLY worse than thought in 2009, meaning that a larger stimulus was needed than planned. It wasn't big enough, but it DID prevent unemployment from going about 2 percentage points higher.
Historically, WW2 was the largest economic stimulus in history! THAT ended the Great Depression.
I wish conservatives were not so totally Fact-averse -- anyone without ideological blinders can see that the Bush Lite tax cuts have given NO stimulus at all, have simply added TRILLIONS to the national debt. Naturally, Mitt & the boys want to cut even MORE taxes -- beyond maintaining the Bush Lite cuts.
There is Orwellian irony present, as the same players that advocate for a balanced budget ALSO favor tax policies that will add TRILLIONS to the deficit! The Ryan "Plan" and Bishop Romney's tax code "fix" will EACH add TRILLIONS to the debt -- and they simply can't wait to pass them. This is total fiscal insanity!
PRIME TIME PLAYER: Embattled Obama Calls In Bill Clinton...proving once again that he wasn’t ready to be President…….or even organized.

The Liberals call in their All Star ex defiler of inturns, rapist, chronic liar and only president to be found guilty of perjury..........as their saving grace..........WHAT A HOOT.

OH WELL OBAMA WILL JUST WIMP ALONG WITH HIS TELEPROMPTER CRUTCH.

Since: Nov 08

Paris

#15 Jul 30, 2012
Cat74 wrote:
What ever Obama thought he could do it has been a complete failure. Last quarter after years of Obama's solutions growth was at 2%. This quarter growth is at 1.5%. We are in reverse. We need new ideas, new solutions. Maybe Romney isn't the best man for the Job, but he is a better man for the job then we have today. Obama has proven that after 4 years of accomplishing nothing. This is no job for on the job training as Biden said years ago about Obama.
Unless you are black or a paid government odoodle hack......this makes sense.
KlineHilda1

Los Angeles, CA

#16 Jul 30, 2012
like Elaine answered I cant believe that a stay at home mom able to get paid $4071 in one month on the computer. did you see this site http://goo.gl/UUZFR
xnutmegger

Phoenix, AZ

#17 Jul 30, 2012
KlineHilda1 wrote:
like Elaine answered I cant believe that a stay at home mom able to get paid $4071 in one month on the computer. did you see this site http://goo.gl/UUZFR
Spam...^^^^...SPAM...^^^^^^^SP AM....^^^^^
Cat74

Palatine, IL

#18 Jul 30, 2012
We came out of the first great depression, because we entered WW2, built munitions plants, built Air Planes, everyone, even women worked, and paid taxes. We will not get out of this one until we cut taxes, help create jobs for workers that pay taxes, and stop trying to save the whales while the children of of our workers go hungry. We are a great country that has been stopped dead in our tracks by politicians that do not know what they are doing. Get some new people in office, and watch us come out of this depression.
questioner

Llano, TX

#19 Jul 30, 2012
How about:

http://en.wikipedia.org/wiki/National_Commiss...

No, most want to cut taxes and spending. Do that and you ain't seen nothing yet. AND how are we going to pay for the war to keep Iran from getting nukes?
Rich

Hollywood, FL

#20 Jul 30, 2012
Cat74 wrote:
We came out of the first great depression, because we entered WW2, built munitions plants, built Air Planes, everyone, even women worked, and paid taxes. We will not get out of this one until we cut taxes, help create jobs for workers that pay taxes, and stop trying to save the whales while the children of of our workers go hungry. We are a great country that has been stopped dead in our tracks by politicians that do not know what they are doing. Get some new people in office, and watch us come out of this depression.
Instead of just giving the money away to people on un employment we should have spent the money on corporate welfare making deals with companies not to lay people off, maybe make them part time or cut wages but not lay them off and to keep their health benefits. Then when things got better the company's were still in business and ready to produce. Instead too many of the companies went under, their products only to be replaced by imports.

Of course the unions probably would not have allowed that sort of thing.
Cat74

Palatine, IL

#21 Jul 30, 2012
Corporations are not charities. If they don't need the employees thay don't need them. Let the Government start WPA for the idle. Oh they can't, all those jobs building roads and bridges are under Union control now. Oh well. Let the Unions find jobs for the lazy. They don't want them either.

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