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(The New York Times)   GOP plans to tank the economy proceeding right on schedule   (nytimes.com) divider line 79
    More: Obvious, GOP, Vincent Reinhart, government finance, proceedings, defense industry, Bernanke, political agenda  
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4195 clicks; posted to Business » on 06 Aug 2012 at 11:23 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-08-06 10:37:59 AM
All together, the fiscal cliff's total impact equals slightly more than $600 billion, or 4 percent of gross domestic product, and if no action is taken, the Congressional Budget Office projects the economy will shrink by 1.3 percent in the first half of 2013 as a result.

Okay, THAT is farking scary.
 
2012-08-06 11:17:16 AM
And yet, we'll still elect these clowns into office.
 
2012-08-06 11:23:05 AM

xanadian: And yet, we'll still elect these clowns into office.


Don't blame me. I didn't vote for the Republicans.
 
2012-08-06 11:30:20 AM

xanadian: And yet, we'll still elect these clowns into office.


well duh. anything less would be socialisms. OMG SOCALISMS! SOOO MANY SOCIALISMS!
 
2012-08-06 11:30:56 AM

xanadian: And yet, we'll still elect these clowns into office.


Because fark the gays, women, and that blah president!

The stupidity of the American electorate never ceases to amaze. It only seems to grow in magnitude year over year.

If we could somehow harness the power of the stupidity of America into a product, we'd have our budget and employment problems solved.
 
2012-08-06 11:34:48 AM

EighthDay: xanadian: And yet, we'll still elect these clowns into office.

Because fark the gays, women, and that blah president!

The stupidity of the American electorate never ceases to amaze. It only seems to grow in magnitude year over year.

If we could somehow harness the power of the stupidity of America into a product, we'd have our budget and employment problems solved.


Maybe we could find a way to turn stupidity into electricity. Have places with signs "powered by environmentally friendly stupidity"
 
2012-08-06 11:45:55 AM
I assume that there's two sides that can't agree here, correct? Don't both share some blame?

Oh, I forget, this is Fark
 
2012-08-06 11:48:58 AM

Death_Poot: I assume that there's two sides that can't agree here, correct? Don't both share some blame?

Oh, I forget, this is Fark


The Republicans were offered a deficit-reduction deal where they would get $10 in spending cuts for every $1 in tax increases. They rejected it. I'm assuming you haven't been following politics for the last 3 years; shiat like this has been kind of a pattern for the GOP.

/and if you have been following politics, you're either a shill or a troll.
 
2012-08-06 11:52:39 AM
And they've got their Fox News puppets repeating that "fiscal cliff" boogeyman phrase 24/7. Yep, all according to plan.

Question: what will they do when Obama wins the election in November? Will they still try to tank the economy out of spite? At what point does this cross into treason?
 
2012-08-06 11:54:56 AM

HMS_Blinkin: Death_Poot: I assume that there's two sides that can't agree here, correct? Don't both share some blame?

Oh, I forget, this is Fark

The Republicans were offered a deficit-reduction deal where they would get $10 in spending cuts for every $1 in tax increases. They rejected it. I'm assuming you haven't been following politics for the last 3 years; shiat like this has been kind of a pattern for the GOP.

/and if you have been following politics, you're either a shill or a troll.


I have a question. We know the GOP will not compromise on any deal and are hoping that the impending fiscal cliff will help them in the election since they'll somehow pin it on Obama. What are the odds that a lame duck Congress will get something through after the elections? Would the remaining GOP be more willing to compromise if the election was no longer an issue? Or should we expect a complete slash and burn from people who would be leaving Congress?
 
2012-08-06 11:55:37 AM

FishyFred: All together, the fiscal cliff's total impact equals slightly more than $600 billion, or 4 percent of gross domestic product, and if no action is taken, the Congressional Budget Office projects the economy will shrink by 1.3 percent in the first half of 2013 as a result.

Okay, THAT is farking scary.


It's not hard to fix. The GOP just doesn't want to. It's not unlike a petulant child refusing to eat his Brussels sprouts...aside from the devastating repercussions of inaction.
 
2012-08-06 11:58:26 AM
Not many bites yet...must be too obvious.
 
2012-08-06 11:59:10 AM
I thought democrats wanted cuts to military spending and higher taxes?
 
2012-08-06 11:59:25 AM

NeoCortex42: HMS_Blinkin: Death_Poot: I assume that there's two sides that can't agree here, correct? Don't both share some blame?

Oh, I forget, this is Fark

The Republicans were offered a deficit-reduction deal where they would get $10 in spending cuts for every $1 in tax increases. They rejected it. I'm assuming you haven't been following politics for the last 3 years; shiat like this has been kind of a pattern for the GOP.

/and if you have been following politics, you're either a shill or a troll.

I have a question. We know the GOP will not compromise on any deal and are hoping that the impending fiscal cliff will help them in the election since they'll somehow pin it on Obama. What are the odds that a lame duck Congress will get something through after the elections? Would the remaining GOP be more willing to compromise if the election was no longer an issue? Or should we expect a complete slash and burn from people who would be leaving Congress?


I would say that depends on who it is that'll be leaving. Moderate republicans and most dems would most likely try to do SOMETHING to avoid a catastrophe. If it is the teabaggers that get voted out in droves (please let it be so!), they could do anything. I legitimately wouldn't be surprised if some of these clowns actually tried to commit arson on their way out.

The problem with the teabaggers is that they thought Heath Ledger's portrayal of the Joker was meant to be an instruction manual.
 
2012-08-06 12:00:25 PM

SacriliciousBeerSwiller: And they've got their Fox News puppets repeating that "fiscal cliff" boogeyman phrase 24/7. Yep, all according to plan.

Question: what will they do when Obama wins the election in November? Will they still try to tank the economy out of spite? At what point does this cross into treason?


I personally thought the whole debt-limit thing last summer was at least worth an investigation.
 
2012-08-06 12:01:53 PM

groppet: EighthDay: xanadian: And yet, we'll still elect these clowns into office.

Because fark the gays, women, and that blah president!

The stupidity of the American electorate never ceases to amaze. It only seems to grow in magnitude year over year.

If we could somehow harness the power of the stupidity of America into a product, we'd have our budget and employment problems solved.

Maybe we could find a way to turn stupidity into electricity. Have places with signs "powered by environmentally friendly stupidity"


The Defense Electricity Research Project.
 
2012-08-06 12:05:57 PM
LOL! republicans.
 
2012-08-06 12:06:26 PM

MugzyBrown: I thought democrats wanted cuts to military spending and higher taxes?


They do, but they also realize that massive spending cuts combined with massive tax increases while the economy is weak would throw us back into recession.

So they're willing to put aside their long-term ideological goals for the good of the American economy.

You know, like goddamn adults.
 
2012-08-06 12:24:09 PM

groppet: EighthDay: xanadian: And yet, we'll still elect these clowns into office.

Because fark the gays, women, and that blah president!

The stupidity of the American electorate never ceases to amaze. It only seems to grow in magnitude year over year.

If we could somehow harness the power of the stupidity of America into a product, we'd have our budget and employment problems solved.

Maybe we could find a way to turn stupidity into electricity. Have places with signs "powered by environmentally friendly stupidity"


Soylent Stupid™ ?
 
2012-08-06 12:38:30 PM

SacriliciousBeerSwiller: And they've got their Fox News puppets repeating that "fiscal cliff" boogeyman phrase 24/7. Yep, all according to plan.

Question: what will they do when Obama wins the election in November? Will they still try to tank the economy out of spite? At what point does this cross into treason?


Nah, this gets solved two seconds after the election is over. The lame ducks have NOTHING to lose, the new congresscritters have nothing to gain.
 
2012-08-06 12:41:45 PM
I don't believe that the GOP is single-handedly destroying the economy. Like Democrats, they're using both hands.

/war
//inflation
///debt
////BOTH parties are responsible
//stop being a partisan tool and think for yourself
 
2012-08-06 12:42:48 PM

NeoCortex42: I have a question. We know the GOP will not compromise on any deal and are hoping that the impending fiscal cliff will help them in the election since they'll somehow pin it on Obama. What are the odds that a lame duck Congress will get something through after the elections? Would the remaining GOP be more willing to compromise if the election was no longer an issue? Or should we expect a complete slash and burn from people who would be leaving Congress?


In order:

0% chance.

I doubt it. The Tea Party has enough members of the House to block just about anything they don't like, and it looks like The Tea Party is about to gain one more member in the Senate thanks to Texas. Indiana is up in the air, but Mourdock could be a 5th Teahadist in the Senate. Given how closely the Senate is divided, five people are enough to cause problems for whomever is the next President.

I don't think you'll see a slash & burn, either, as it would all be blocked in the Senate. They might ATTEMPT it, but it won't happen.
 
2012-08-06 12:45:45 PM

FishyFred: All together, the fiscal cliff's total impact equals slightly more than $600 billion, or 4 percent of gross domestic product, and if no action is taken, the Congressional Budget Office projects the economy will shrink by 1.3 percent in the first half of 2013 as a result.

Okay, THAT is farking scary.


FTA: "Unless Congress acts to extend the tax provisions and comes up with a budget deal that averts the planned reductions in military spending and other government programs, taxes will rise by $399 billion while federal government spending will fall by more than $100 billion, according to an analysis by the Congressional Budget Office."

Sounds good to me. We should not have a large portion of our domestic product tied up in selling to the govt in the first place. I have no problem with increasing taxes as long as we start cutting back on our spending. Reducing Military spending by 100 or even 200 billion would make many people very happy.
 
2012-08-06 12:51:17 PM

Kazrath: Sounds good to me. We should not have a large portion of our domestic product tied up in selling to the govt in the first place. I have no problem with increasing taxes as long as we start cutting back on our spending. Reducing Military spending by 100 or even 200 billion would make many people very happy.


1) massive cuts to defense spending = increase in unemployment, at least in the short run. I am not saying that we shouldnt cut defense spending, just saying that there are consequences.

2) would be nice to someday get back to that point where we TALK about paying down a part of the debt.

Thanks bush for increasing spending, esp defense, while cutting taxes and increasing the debt/deficit.
sigh
 
2012-08-06 12:58:42 PM

MugzyBrown: I thought democrats wanted cuts to military spending and higher taxes?


They do, but mostly because it is what the republicans don't want.

Republicans = The debt is too high, cut all the programs we don't like
Dems = We agree lets cut defense and raise taxes
Repubs = Never mind, lets argue about it until the election and blame Obama
Dems = OK
 
2012-08-06 01:03:45 PM

Dog Welder: NeoCortex42: I have a question. We know the GOP will not compromise on any deal and are hoping that the impending fiscal cliff will help them in the election since they'll somehow pin it on Obama. What are the odds that a lame duck Congress will get something through after the elections? Would the remaining GOP be more willing to compromise if the election was no longer an issue? Or should we expect a complete slash and burn from people who would be leaving Congress?

In order:

0% chance.

I doubt it. The Tea Party has enough members of the House to block just about anything they don't like, and it looks like The Tea Party is about to gain one more member in the Senate thanks to Texas. Indiana is up in the air, but Mourdock could be a 5th Teahadist in the Senate. Given how closely the Senate is divided, five people are enough to cause problems for whomever is the next President.

I don't think you'll see a slash & burn, either, as it would all be blocked in the Senate. They might ATTEMPT it, but it won't happen.


In all fairness, there are enough moderate Republicans in the House to make a coalition with the Democrats to get by the hard-line Tea Party side of the Republicans to pass bipartisan legislation.

The problem is that:
a) Fear of losing their jobs in 2 years when they get branded RINOs for compromising.
b) Boehner and Cantor blocking such efforts.

So what you get are Tea Party agenda items that die in the Senate, the Senate produces moderate pieces that die in the House, and the fiscal cliff gets ever closer.

/The Senate doesn't produce left-wing legislation because of the few remaining Blue Dogs, the filibuster, and the lack of spine on the part of the Democrats
 
2012-08-06 01:11:18 PM

gretzkyscores: I don't believe that the GOP is single-handedly destroying the economy. Like Democrats, they're using both hands.

/war
//inflation
///debt
////BOTH parties are responsible
//stop being a partisan tool and think for yourself


war? GOP-BUSH
inflation? WHAT inflation????? 3% is normative and the fed has HUGE amounts of options with the fed rate if it looks like inflation is getting out of control.
debt? GOP wont agree to increase taxes back to pre-bush levels. You really think you can get spending cuts without tax increases? LOL why would the dems give something up and get NOTHING in return??

so .... what was your point other than both parties suck vote GOP?
 
2012-08-06 01:20:09 PM

namatad: 1) massive cuts to defense spending = increase in unemployment, at least in the short run. I am not saying that we shouldnt cut defense spending, just saying that there are consequences.


The problem that Republicans are facing is that they have spend the last 4 years screaming "Government Spending doesn't create jobs!" So, they can't turn around and now scream "You can't cut defense spending because we'll lose jobs!" Well, that's not true. They can, and will. But I think you see the point...
 
2012-08-06 01:28:15 PM

The Homer Tax: namatad: 1) massive cuts to defense spending = increase in unemployment, at least in the short run. I am not saying that we shouldnt cut defense spending, just saying that there are consequences.

The problem that Republicans are facing is that they have spend the last 4 years screaming "Government Spending doesn't create jobs!" So, they can't turn around and now scream "You can't cut defense spending because we'll lose jobs!" Well, that's not true. They can, and will. But I think you see the point...


LOL - yup
 
2012-08-06 01:48:46 PM
This is what happens when Republicans get 98% of what they want.
 
2012-08-06 01:55:53 PM

HMS_Blinkin: Death_Poot: I assume that there's two sides that can't agree here, correct? Don't both share some blame?

Oh, I forget, this is Fark

The Republicans were offered a deficit-reduction deal where they would get $10 in spending cuts for every $1 in tax increases. They rejected it. I'm assuming you haven't been following politics for the last 3 years; shiat like this has been kind of a pattern for the GOP.

/and if you have been following politics, you're either a shill or a troll.


Nope, I'm neither. It's called negotiation. Personally, I think above $1million should have higher rates. But, that's just me.

Regarding the deal you mention, it'd be interesting to see the poison pills that both sides put in to ensure that there would be no deal.

Purely an exercise to for both sides to say: "you dont care, you're a poopyhead". When it's more likely true that neither side cares about anything but their own re-elections
 
2012-08-06 01:56:51 PM

HMS_Blinkin: Death_Poot: I assume that there's two sides that can't agree here, correct? Don't both share some blame?

Oh, I forget, this is Fark

The Republicans were offered a deficit-reduction deal where they would get $10 in spending cuts for every $1 in tax increases. They rejected it. I'm assuming you haven't been following politics for the last 3 years; shiat like this has been kind of a pattern for the GOP.


They've taken deals like that in the past, as witness the Reagan tax increases in return for 280 billion in spending cuts that never happened. The Republicans may be stupid, but even they know not to get taken twice. You want a deal like that, try making the cuts and when they've happened and the savings realized in full, then you get your tax increase. I won't hold my breath waiting for Democrats to sign on to that.

i50.tinypic.com
 
2012-08-06 02:09:16 PM
Would be nice to see at least the temporary tax relief Bush signed finally run out, that would be a starting point.

Also, just to feed the trolls, do you think that giving in to corporations demands would create a better America, I mean in the end they are just people, people that can move to places like Dubai once the ship is sinking...
 
2012-08-06 02:10:33 PM

AirForceVet: Don't blame me. I didn't vote for the Republicans.


No, my boomer friends did. Mindlessly, and they plan to vote for Romney too.
I apologize, but it's the Reagan Zombies and their offspring who are determined to crash this country to get their way. I've heard them call Obama names and make the wildest accusations, with nothing to back them up except Limbaugh or one of those Winger sites that there's a million different of them if you ever hit Google with one of their lies.
 
2012-08-06 02:18:56 PM
HMS_Blinkin
Death_Poot: I assume that there's two sides that can't agree here, correct? Don't both share some blame?

Oh, I forget, this is Fark

The Republicans were offered a deficit-reduction deal where they would get $10 in spending cuts for every $1 in tax increases. They rejected it. I'm assuming you haven't been following politics for the last 3 years; shiat like this has been kind of a pattern for the GOP.


Seriously, what farking universe do you live in. If this was true, which it is not, look at the history of these types of deals. Its always pass the tax increases in one bill, then will do the spending cuts in another. Except the cuts never come. And with Dirty Liar Harry in charge, that stone cold fact.

Reagan fell for the democrat trick early in his term, Bush I fell for the trick, we aint falling for the trick any more.

And I love how there is no analysis on this thread about who's causing the gridlock. Extend the Bush cuts for everyone but dems say no, we have to raise taxes on the top earners. Thats your grid lock and Business is cancelling orders because they believe the Repubs will cave on the tax increases. Of course the economy will surge on second Wednesday in November if Romney is elected, thats a given.

Vote for Romney because it can't get any worse than it is now.
 
2012-08-06 02:19:56 PM

Kurmudgeon: AirForceVet: Don't blame me. I didn't vote for the Republicans.

No, my boomer friends did. Mindlessly, and they plan to vote for Romney too.
I apologize, but it's the Reagan Zombies and their offspring who are determined to crash this country to get their way. I've heard them call Obama names and make the wildest accusations, with nothing to back them up except Limbaugh or one of those Winger sites that there's a million different of them if you ever hit Google with one of their lies.


Kind of like saying "grandma's gonna get thrown off a cliff and have to eat dog food", amirite? Both sides are good at it, dont call just one out.
 
2012-08-06 02:25:08 PM
Kurmudgeon
AirForceVet: Don't blame me. I didn't vote for the Republicans.

No, my boomer friends did. Mindlessly, and they plan to vote for Romney too.
I apologize, but it's the Reagan Zombies and their offspring who are determined to crash this country to get their way. I've heard them call Obama names and make the wildest accusations, with nothing to back them up except Limbaugh or one of those Winger sites that there's a million different of them if you ever hit Google with one of their lies.



Well, Well Well, they call Obama names. Wow that's a new disrespect for a sitting president. Libs always showed the utmost respect for GWB so I can see where you would be outraged that your conservative friends aren't returning the same level of respect to BHO. Or are they?

So what are these wild accusations, lets hear them that have no back up. Or could it be that you don't want to accept any evidence that contradicts your false worship. Tell us, I'd like to know what these are.
 
2012-08-06 02:28:44 PM
protectyourlimbs

Would be nice to see at least the temporary tax relief Bush signed finally run out, that would be a starting point.

Also, just to feed the trolls, do you think that giving in to corporations demands would create a better America, I mean in the end they are just people, people that can move to places like Dubai once the ship is sinking...


Why would raising taxes be a good start?

What demands are Corps making that would have an adverse affect on America?
 
2012-08-06 02:32:42 PM
300+ million people in the United States and Obama and Romney are the best we can come up with?
Folks, we are Farked.
 
2012-08-06 02:33:48 PM

AirForceVet: xanadian: And yet, we'll still elect these clowns into office.

Don't blame me. I didn't vote for the Republicans.


So you voted for the other guys who won't compromise? Right now both sides are looking across no-man's land from their respective trenches and both hoping that the fallout from this bomb going off will hurt them less.
 
2012-08-06 02:38:17 PM

Mr. Eugenides: So you voted for the other guys who won't compromise? Right now both sides are looking across no-man's land from their respective trenches and both hoping that the fallout from this bomb going off will hurt them less.


Except that's not true. The Republicans are even blocking VOTES on many bills. They are too busy voting over and over to appeal Obamacare at the expense of actually trying to solve some problems.

Both side are not the same. The Republicans are driving towards gridlock on purpose and it is obvious.
 
2012-08-06 02:40:13 PM

cig-mkr: 300+ million people in the United States and Obama and Romney are the best we can come up with?
Folks, we are Farked.


President Obama is over 9000 times better than bush 2.0 and rmoney.
If your problem is with your party, why havent you been working for the last 12 years to get better candidate choices?
The democrats are VERY happy with President Obama. Hell, we are actually voting FOR our choice rather than against the other guy.
 
2012-08-06 02:41:33 PM

SpectroBoy: Mr. Eugenides: So you voted for the other guys who won't compromise? Right now both sides are looking across no-man's land from their respective trenches and both hoping that the fallout from this bomb going off will hurt them less.

Except that's not true. The Republicans are even blocking VOTES on many bills. They are too busy voting over and over to appeal Obamacare at the expense of actually trying to solve some problems.

Both side are not the same. The Republicans are driving towards gridlock on purpose and it is obvious.


Good point. Why is the GOP blocking President Obama's job bill from getting a vote?
are they afraid that they will look retarded voting against it? are they terrified that it might actually pass and get signed into law??

LOL
 
2012-08-06 02:42:23 PM

Mr. Eugenides: AirForceVet: xanadian: And yet, we'll still elect these clowns into office.

Don't blame me. I didn't vote for the Republicans.

So you voted for the other guys who won't compromise? Right now both sides are looking across no-man's land from their respective trenches and both hoping that the fallout from this bomb going off will hurt them less.


To the GOP, compromise is for RINOS. If you really mean to say that the Dems are just as obstructionist as the GOP right now then you're just being dishonest.
 
2012-08-06 02:44:32 PM

Buffalo77: protectyourlimbs

Would be nice to see at least the temporary tax relief Bush signed finally run out, that would be a starting point.

Also, just to feed the trolls, do you think that giving in to corporations demands would create a better America, I mean in the end they are just people, people that can move to places like Dubai once the ship is sinking...

Why would raising taxes be a good start?

What demands are Corps making that would have an adverse affect on America?


Never said anything about raising taxes...

If companies don't want to do business or expand then that is their right, I am saying the government should not change its stance or ideals to appease those that are only in it for the good of their profits, just like the market it will sort itself out...
 
2012-08-06 03:27:55 PM

Buffalo77: Well, Well Well, they call Obama names. Wow that's a new disrespect for a sitting president. Libs always showed the utmost respect for GWB so I can see where you would be outraged that your conservative friends aren't returning the same level of respect to BHO. Or are they?


Well , When I call GWB a liar, I say, "where are those WMD?"
That just one of many that Bush told repeatedly, "yellow cake" is another.
More than I can list here, actually.However, the "Great Recession" will ALWAYS belong to the GOP.
And don't forget, GWB and the GOP told the lies that kill.

However, right wing clowns like yourself just scream "liar liar liar" over and over.
There is a difference, now I expect you to attempt to defend your Bain owning money worshipper Romney.
 
2012-08-06 03:29:51 PM

Death_Poot: Kind of like saying "grandma's gonna get thrown off a cliff and have to eat dog food", amirite? Both sides are good at it, dont call just one out.


Well, seeing that happened under a Republican president, he was the one called out for it.
I don't wish to return to those days, However, I commend you on your "both sides are bad, Vote Republican" attempt.
Flawed as it was.....
 
2012-08-06 03:45:26 PM

SacriliciousBeerSwiller: And they've got their Fox News puppets repeating that "fiscal cliff" boogeyman phrase 24/7. Yep, all according to plan.

Question: what will they do when Obama wins the election in November? Will they still try to tank the economy out of spite? At what point does this cross into treason?


They'll extend all the tax cuts rather than just those that Obama wants to extend, and the "fiscal cliff" will be averted.

If tax hikes are really so bad for the economy, why won't Obama agree to extend all the tax cuts rather than just a portion? Why hold the economy hostage like that?

I know the GOP is no better, and personally id prefer a candidate whod let ALL the tax cuts expire, or at least start phasing them out, but this whole "both sides are
bad, vote Dem" talking point is getting tiresome, when you know Obama could get all of this uncertainty and fiscal cliff nonsense out of the way for a while simply by offering to extend the tax cuts in exchange for eliminating the sequestration.
 
2012-08-06 03:50:06 PM

Kurmudgeon: Death_Poot: Kind of like saying "grandma's gonna get thrown off a cliff and have to eat dog food", amirite? Both sides are good at it, dont call just one out.

Well, seeing that happened under a Republican president, he was the one called out for it.
I don't wish to return to those days, However, I commend you on your "both sides are bad, Vote Republican" attempt.
Flawed as it was.....


Didn't say that, you should dig up some new material. It's getting stale. Your hypocrisy is showing as well.
 
2012-08-06 03:53:07 PM

jjorsett: They've taken deals like that in the past, as witness the Reagan tax increases in return for 280 billion in spending cuts that never happened. The Republicans may be stupid, but even they know not to get taken twice. You want a deal like that, try making the cuts and when they've happened and the savings realized in full, then you get your tax increase. I won't hold my breath waiting for Democrats to sign on to that.


Oh, the poor Republicans were tricked?

You may be aware that the Supplemental Appropriations Act, 1982 was passed by overruling Reagan's veto. Who was in control of the Senate at that time?

Damn facts!
 
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