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Aaron Careaga

Research Analyst,

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Do you think political leaders will provide any form of resolution before we hit the fiscal cliff?

With the impending US fiscal cliff (Jan 2013), do you think we will see any resolution? Or, will the can just be kicked farther down the road?

Recent Update:

http://politicalticker.blogs.cnn.com/2012/08/22/romney-obama-react-to-fiscal-cliff-report/comment-page-2/

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    Aug 23 2012: It is not usually about not knowing what to do; it is about the courage to do the right thing or lack of it.
    And no matter what we think, courage to do the right thing is not a common virtue.
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    Aug 22 2012: I sincerely think that the politicians will pout and take a hands off stance and watch the economy crash and burn because they have no idea and no idea of how to communicate the urgency to the electorate. They do not know what to do with a population who does not want the truth and they played a game of self centeredness until it is now too late to fix it. I want to be an optimist in this but perhaps the truth is the best outcome- for I think the USA is definately a phoenix who will certainly rise from the ashes. I worry, however, that there will be more suffering than the world can even imagine.
    I hope I am wrong.
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      Aug 22 2012: I fear the same, and based on previous record it is not looking to good. Hopefully we can resolve our problems before we reach a breaking point.
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      Aug 22 2012: I understand your sentiment, but I... and I'm not usually the guy to say this, I think you have a bit too little faith in the American people. I think the only people not interested in solving our problems... live in Washington. Both the Tea Party, and Occupy Wall Street, had a central message of fiscal solvency before they got co opted by the nuts.

      The only people who even think Americans don't know what needs to be done, are the people on TV. I think the average homeless guy here has a better solution than these knuckleheads. So, we might hit the cliff, but then we'll go on a headhunting mission at the poles and start getting our act together.

      Right now, the American people, are like a group of Brewers, and Mets fans... If we actually go over the cliff... The Yankees are coming to town : )
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    Sep 2 2012: re: America:
    Obama has failed as CEO of America.
    It's time to change before the ship sinks.
    Obama does not see the ship sinking and he's surrounded by yes- men, by design.
    No economic budget plan was ever submitted in 3.5 years ?!?
    Obama's resume: "Spending and Giving Away Government money " is what he did very well in his other government jobs - that's all he knows, he's done this well.
    Obama-care has increased our debt to the moon - and gives more taxes - Thanks ... vs. Getting more Jobs, Fixing Housing, .....
    He also likes to " Divide and Conquer" He pitts white vs black, poor vs rich, non-citizen vs.citizen, he's suing States that have Voter Registration Cards - because it's discriminating against non-citizens...( .? ...tell me the logic here anyone? )

    The only SOLUTION is to vote the current administration out of office.
    Romney-Ryan are business minded Good people, Good reputations. They actually have an Economic Budget plan !
    Romney restructures companies going down the drain - he knows how to cut out waste, increase profits.
    He knows redistribution of wealth is not the key to saving a countries bottom line as Obama promoted.
    Making our country strong and solvant -
    Romney can do it !
    Ryan is amazing also - He has won every news-interview debate I viewed by simply stating facts, and not allowing the other person to talk over him with false information. He was polite and firm. That's what we need.
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    Aug 23 2012: We will fall off the cliff, but if we dare to learn from it, and we dare to get rid of the corrupt economic model that is unsustainable and crushing, it will be a GOOD thing. It will also get rid of those horrible American religions at the same time. It will be disruptive, but worth it in the end - though we might have a major war and/or plague to keep it going just a little while longer while thinning out the global population.

    There are just too many people to feed and house and provide drinkable water for. As the wealthiest have never paid for this, and the middle class is going away, there are only two conceivable solutions in my mind:

    1) terrify the people until they clamor for a return to our present economic model. OR
    2) enough people know about what it is and how it works to prevent its return.
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    Aug 23 2012: NO. The current administration has already announced that next year the US will operate at a additional 3 trillion dollar deficit. Even with this announcement and the impending closing of all coal fired power plants small business owners in the toliet and unemployment at a all time high and climbing the incumbent still has a 4 point lead. We have hit the cliff and the stuff has hit the fan. The problem is that the citizens do not seem to mind and are following the administration as surely as the pied pipper led the rats.

    The deadly attack on investors, union demands, increased corporate taxes, big government, executive and legislative laws that are designed to bring corporations down have ensured that jobs and wealthy investors look else where for a return on their money. That is not rocket science. That is very simply killing the golden goose.

    Standing on the side lines and yelling that it is Bush's fault and the 1% are to blame will not solve the issues at hand. I have heard that for four years and have not seen any action to resolve the issues. The national debit has tripled and the unemployment continues to rise. How much further can the can be kicked.

    The problem is not the administration .... it is the citizens that allow this to continue.

    All the best. Bob.
    • Aug 23 2012: You are right, Instead of bailing out the banks we should have took their houses, cars, baots and planes and sold them for scrape and started over from the bottom.

      At least in 1929 some had the decency jump out windows.
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        Aug 23 2012: Not at all. The administrations of Carter and Clinton should never have forced banks to lend to unqualified and high risk housing applicants. Ergo no banking crisis.

        That addresses the past. The question is will our leaders step forward with a resolution .... My reply address what is in our immediate future and that there is no resolution on the table but rather continued spending and deeper deficit.

        Thanks for the reply. Bob.
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      Aug 23 2012: Hi All!
      Ms.Doom and Gloom (aka me) has found a second wind by watching a TEDx talk by a lady economist. I liked it and her optimism which Bob also has. The sound is not great but I thought the content was excellent. I am attaching it here:

      http://youtu.be/_DKjvN8X4Xk

      A song that captures it all for me:

      http://youtu.be/P0Dng3-3N5I
  • Aug 23 2012: My best guess is that recent history will be repeated.

    Both parties will play a very stupid game of brinkmanship, keeping the party leaders in the news as long as possible.

    At the last minute they will appear in front of the cameras (separately to avoid contamination) and both parties will announce victory with seriously sad faces. The fake sadness is because they had to compromise with those evil misguided dimwits on the other side and did not get everything their own way, so the solution is horribly flawed. If you voters would just give our enlightened party full power to control your lives for you, we promise to fix everything.

    Everyone understands negotiation and compromise. If the representatives really believe that compromise will hurt their chances for re-election, then their districts must have been very highly gerrymandered. Gerrymandering could lead to the effective destruction of the democratic process in this country.

    Of course, it is just as likely that the whole process is just for show. Our 'representatives' all get their marching orders from their rich contributors who are more in agreement than not.

    I am betting in 2020 an analysis of Obamacare will show that it increased the profits of the insurance industry.
  • Aug 23 2012: The US is doomed, it has shot itself in the foot many times over. The issues that they are facing now are a result of fighting against what they should not have fought against on foreign soil. Also of allowing corporations to move everything out of the country to asia. If you look at it the US has become what it was in the 13 colonies days, they produce raw, export to china, import the refined. Unfortunately without another revolution it cannot be fixed, and with the US dying so does Canada... at least until we start getting close to other powers.