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Fiscal Cliff Jan 1 2013, Budget Control Act
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Fiscal Cliff Jan 1 2013, Budget Control Act

  #1 (permalink)
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Fiscal Cliff Jan 1 2013, Budget Control Act

Source: Budget Control Act Sequestration Would Hit Defense Hardest


Quoting 
The Budget Control Act's $1.2 trillion automatic sequestration cuts, out of $46.3 trillion in total spending, would impose draconian cuts on defense (on top of an estimated $407 billion in cuts from its spending caps). This would slash the defense budget and jeopardize the U.S. military's ability to defend the nation. Entitlement spending—the biggest part of the budget— would scarcely be touched by comparison.

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Source: United States fiscal cliff - Wikipedia, the free encyclopedia


Quoting 
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Source: http://rigell.house.gov/uploadedfiles/summary_of_the_budget_control_act_of_2011.pdf


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  #2 (permalink)
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What are your thoughts? Will Congress be able to reach a deal to avoid the Fiscal Cliff, or will it go into effect before they can compromise?

Mike

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  #3 (permalink)
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I don't care for Tony Robbins, but this video is not completely terrible. It tries to emphasize the debt problem.



Mike

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  #4 (permalink)
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Definitely a mess but they'll make some kind of deal and kick the can somehow I'm sure

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Mike

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Source: The Historic Demise Of The Ever-Shrinking Dollar: An Infographic | ZeroHedge

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Mike

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Isn't the fiscal cliff really just a distraction or excuse?

I mean come on, 1.2 trillion in cuts, that's nothing - and isn't most of it over a 10 year period? Big deal. Yet all I hear is "Fiscal Cliff, Fiscal Cliff" almost like everyone was clamoring about the year 2000 looming at the end of the calendar...

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Big Mike View Post
Isn't the fiscal cliff really just a distraction or excuse?

I mean come on, 1.2 trillion in cuts, that's nothing - and isn't most of it over a 10 year period? Big deal. Yet all I hear is "Fiscal Cliff, Fiscal Cliff" almost like everyone was clamoring about the year 2000 looming at the end of the calendar...

Mike

It probably is not that big of a deal and is being hyped up.....like everything else it's hard to figure what the truth is with all the bullcrap out there.

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Big Mike View Post
Isn't the fiscal cliff really just a distraction or excuse?

I mean come on, 1.2 trillion in cuts, that's nothing - and isn't most of it over a 10 year period? Big deal. Yet all I hear is "Fiscal Cliff, Fiscal Cliff" almost like everyone was clamoring about the year 2000 looming at the end of the calendar...

Mike

Don't know much about this subject. This is from wikipedia:

Under current law, which mandates these tax increases and spending cuts, the deficit for 2013 is projected to be reduced by roughly half, with the cumulative deficit over the next ten years to be lowered by as much as $7.1 trillion.


United States fiscal cliff - Wikipedia, the free encyclopedia

I really like the graphs of tradingeconomics.com. Lots of links here:


Indicators for UNITED STATES

I have enclosed one. I wen't back to the World War II era.
It's worse than I thought for dept to GDP. I believe that the total U.S. debt in dollars
is actually meaningless. (Didn't have time to read all your stuff. Maybe you already covered all this.)

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