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Posted by on Nov 30, 2012 in Economy, Featured, Politics | 2 comments

‘Fiscal cliff’ talks turn sour: Are prospects for deal vanishing?

Rick McKee, The Augusta Chronicle

'Fiscal cliff' talks turn sour: Are prospects for deal vanishing? (via The Christian Science Monitor)

Meetings between Treasury Secretary Tim Geithner and congressional leaders on Thursday marked the first post-election acrimony between the parties in their pursuit of a solution to the “fiscal cliff.” Republicans stewed over the fact the White House has not offered them specific spending or entitlement…

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  • epiphyte

    Social security does not contribute to the deficit. As is, it will not contribute to the deficit for decades. Lifting the contribution cap would ensure that it will never do so. Maybe we could change the name to “National Insurance”, but otherwise, why would we want to change it? Big Pool. Low Risk. Low Overhead. Priceless.

    Which of course is why the “Fix the Debt” hounds are baying for it – there’s no opportunity to cut out their pound of flesh.

  • sheknows

    No matter what happens, the cuts will be severe for the programs needed. If Reps have to concede on the higher taxes all it will do is create further hardship for the consumer and the working class.
    Dems have no leverage here. If they get their tax hike, They can’t prevent the deep cuts and subsequent effects on the middle and lower classes and they can’t keep prices from rising and people from losing jobs and benefits. If they don’t get the tax increase, they still can’t prevent those cuts, but MAYBE prevent the job losses. Maybe I am speaking too soon here…I forgot about Obamacare. Yeah, they will still cut jobs, wages and benefits.

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