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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: 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

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