Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: Carolyn who wrote (131984)	5/7/2012 8:00:43 AM
From: tonto	3 Recommendations Read Replies (1) of 224749

I disagree. Kenneth posted a short time ago an insane position...I believe that the vast majority do not have a clue how serious the debt crisis truly is...and how corruption and fiscal mismanagement will continue the spending craze... To: tonto who wrote (129041) 4/5/2012 12:35:39 PM From: Kenneth E. Phillipps 1 Recommendation Read Replies (4) of 131986 Don’t Worry About Deficit That Will Heal Itself Federal Reserve Chairman Ben S. Bernanke calls the end of 2012 “a fiscal cliff.” The Bush tax cuts are set to expire. The $1.2 trillion spending sequester, enforcing cuts in the defense and domestic budgets, is set to go off. Various stimulus measures -- including the payroll tax cut -- are scheduled to end. “Taken together,” writes the Committee for a Responsible Federal Budget, “these policies would reduce ten-year deficits by over $6.8 trillion relative to realistic current policy projections -- enough to put the debt on a sharp downward path.” In fact, if Congress gridlocks -- and what does Congress do these days but gridlock? -- we face the prospect of too much deficit reduction too fast. The Congressional Budget Office estimates that barreling over the fiscal cliff would increase unemployment by 1.1 percent in 2013. bloomberg.com

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