Why we have to wait until the end of the year to know what is going to happen with the fiscal cliff i mean they could have decided something at the beginning of the month or am i wrong everybody is waiting for the president if he will stay in hawaii or he will go the congress everybody is in suspense. What do you think?
I agree with ericson that going over the fiscal cliff could in theory prove to be a boon for the country, but I am afraid that hindsight proves that the establishment would sooner forgo social welfare programs in favor of perpetual militarism. The party in office being inconsequential.
I remember arguing on this site a couple of years ago with those critical of the position of defaulting on the financial crisis. My argument was and still is that these crises return year after year regardless of each budget expansion. The reason being the nature of our fiat dollar via our privately owned central bank... ie, The Federal Reserve. The entire system is dependent on a constant money supply being inflated ad infinitum. Otherwise, the system will collapse. This means that every year the budget must expand to compensate for the devaluation of the dollar because of the nature of the system. I have made the allegory that it is essentially trying to keep an avalanche at bay by pelting it with snowballs. The harder you fight against it... by feeding it with snowballs, or in our case inflating it with dollars, the more it necessitates in the future, until at long last all reserves are gone and then we hurl every last possession at the threat or allow it to have its way. Now we're discussing higher taxes, reduced social programs, more social security withholding along with higher retirement ages. To what end? Next year will bring about the same cliffhanging with accompanying fearmongering.
Our financial system is essentially a Ponzi scheme... as it is linked with the fiat Federal Reserve Bank note. It has created a pyramid structure that is less tenable each and every year. Ben Bernanke has decreed quantitative easing ad infinitum which means that the Federal Reserve has decided to print as much money as it likes. This is inflation and should more appropriately be called an inflation "TAX" because as the currency is inflated, the purchasing power wanes and drives up the prices of every thing every one buys. It affects us all, not just those earning 250k and up. Of course there is no such thing as a vacuum when we talk about taxing a certain sector of the population because those being taxed will respond by offsetting the higher tax rates with increased pricing for their goods and services.
The only way out of the path of the oncoming avalanche is to greatly diminish the role of government, divorce ourselves from the Federal Reserve central bank, return to a specie backed currency, and understand that modern statism is just the current iteration of top-down hierarchical feudalism that most of our ancestors came to this country to distance themselves from. Unfortunately, those who hold the reins of government, have convinced the people that the paltry social amenities bestowed on the people is a good reason for forfeiting everything else. That a government provided cell phone somehow supplants the loss of purchasing power of the dollar. Through corporate media, they have convinced most of us of the benevolence of government, even as our government bombs the sh!t out of a good portion of the rest of the world, incinerating men... women... children... baby turtles.
I am convinced that we as a country... and as a species are doomed by our idiocy. No one makes a peep while this President makes a list of people to be assassinated... Americans included. It's good that we are forced at governement gunpoint to buy a service from an elite segment of society... Obamacare. This is what good democratic Americans do... we buy useless crap we can't afford because we would hate for some uppity "prigressive" to call us provincial rubes otherwise. Of course we don't care that our pockets are being picked by the Federal Reserve system. Paul Krugman gave his imprimatur to it... anyone who says that he is a part of the establishment and offers reasoned rationale as to why it isn't good for those of us not in the establisment... just blowhards.
On fiscal cliff I say... let's get the purging over with quick.
Essentially the speaker of the house of representatives already decided on a deal with the president. However the rest of the house is refusing to go along with the bill that the speaker negotiated with the president.
The president, during the elections said he wanted a tax bill that would affect the first 250K of income. He compromised up to 750K with the speaker. But the rest of the house does not want to even compromise up to that level. Basically, its their way, or the highway.
Personally, the fiscal cliff could be a good thing for the country. Everyone pays tax rates that they were paying before 2001, and there would be big cuts in the military and social services. Everyone predicts doom and gloom, but I think it would be a HUGE reset for the country.
Only the house of representatives has the power to spend. Not the president. They have to pass some kind of bill.
They are refusing to accept any kind of compromise to do so.