The Next Fiscal Crisis

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2013-01-03 9:09 AM

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Subject: The Next Fiscal Crisis
So, our pathetic congress has now set us up for an even bigger disaster. The debt limit fight is coming up along with the Sequestration. I imagine this one won't be as easy as the fiscal cliff drama.

2013-01-03 9:13 AM
in reply to: #4559618

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Subject: RE: The Next Fiscal Crisis

It will be a lot more of the same.

CC limit will be raised to 20 Trillion at the last minute after a lot of grandstanding.

Spending cuts, we don't need no stinkin cuts!

2013-01-03 9:17 AM
in reply to: #4559618

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Subject: RE: The Next Fiscal Crisis
I predict the more extreme members on the right will hold the house hostage again, and let us go over the debt cliff (what am I supposed to call it?). There will be a good possibility of US debt being downgraded again. Eventually they will sign a bill that doesn't actually lower any real spending, but lets them say that they reduced spending by $x trillion.
2013-01-03 9:19 AM
in reply to: #4559640

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Subject: RE: The Next Fiscal Crisis

JoshR - 2013-01-03 10:17 AM I predict the more extreme members on the right will hold the house hostage again, and let us go over the debt cliff (what am I supposed to call it?). There will be a good possibility of US debt being downgraded again. Eventually they will sign a bill that doesn't actually lower any real spending, but lets them say that they reduced spending by $x trillion.

And the Fed will keep "printing money" so it doesn't matter any way.

2013-01-03 9:33 AM
in reply to: #4559618

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Subject: RE: The Next Fiscal Crisis

JoshR - 2013-01-03 8:09 AM So, our pathetic congress has now set us up for an even bigger disaster. The debt limit fight is coming up along with the Sequestration. I imagine this one won't be as easy as the fiscal cliff drama.

No it is the same one we have had for the last 40 years.

2013-01-03 9:48 AM
in reply to: #4559618

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Subject: RE: The Next Fiscal Crisis
At some point the US needs to decide what it wants to be. Its either a big spending governement with high taxes (like Europe), or I hate to use the word minimalist but 'small' government with reasonably attractive tax rates. It cant be both.

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