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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 694.04-0.2%Jan 29 4:00 PM EST
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To: Vendit™ who wrote (41389)12/6/2012 6:27:55 PM
From: Brian Sullivan2 Recommendations  Read Replies (1) of 222651
 
The automatic spending cuts in both defense and discretionary spending, he added, "are going to be much more than any negotiated deal."
That is why I as conservative, also want to go over the cliff. It is the only way to actually get cuts in government spending. There is a laundry list of other things that expire as well such as the 99-week unemployment benefits extension, the AMT fix and the payroll tax holiday. Mostly Democratic goodies.

We are running over a billion dollar year deficit which means that we are spending $3 for every $2 that we take in in taxes. Federal spending need to be cut back to $2.25 for every $2, which would give us a 250 billion dollar annual deficit. The cliff is really only about 1/3 of the size necessary to achieve this, but it’s a start.
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