"It’s official. With reports that Congress was close to a deal this morning which would avert the fiscal cliff and the president holding a press conference to bolster support for a last minute fix, reports that that the Senate will not be holding a vote on Monday night on this deal. The House has opted to adjourn for the day. At midnight tonight, the United States will go over the fiscal cliff, ushering in all the across-the-board tax hikes and automatic spending cuts that entails.
CNN Congressional reporter Dana Bash confirmed that there would be no vote tonight on Twitter early this afternoon." [Source]
Those mother f*****s!!!
Folks, while some of you are popping your Cristal and singing Auld Lang Syne, I will be crying over stocks in my portfolio dropping in earnings and my already high taxes going up even more.
Anyway, while both sides are to blame for this fiasco, I would like to give a special f**k you to wingnuts on the hill. I came to this conclusion after reading Joshua Green's article in Bloomberg Businessweek.
"On Sunday evening, after a long, fruitless day of haggling, talks between Harry Reid and Mitch McConnell to avert the fiscal cliff broke down and the Senate adjourned until Monday. Republicans had spent much of Sunday pushing to get Social Security cuts included in the deal, and when that effort fell apart, momentum toward a resolution disappeared.
If Republicans don’t have a change of heart fast, we’ll go over the cliff, and they’ll waste a huge opportunity—even without the Social Security cuts, Democrats are offering them an incredibly good deal.
With the caveat that no reporter is privy to the details of the offers being swapped, here is the deal that seemed to be emerging: Democrats would get an extension of unemployment benefits for 2.1 million people; they’d patch the alternative minimum tax for a year to protect the middle class from sharp tax hikes; and they’d implement a “doc fix” to ensure that Medicare reimbursement rates to doctors don’t fall precipitously and limit patients’ access to medical care. Republicans would get to preserve Bush-era income tax rates for households making up to $400,000 (rather than the $250,000 limit Democrats prefer). They’d also get a lower tax rate and a much higher threshold for inheritance taxes (set to revert to 55 percent on estates of more than $1 million on Tuesday). And significantly, Republicans would hold onto their greatest point of leverage in upcoming negotiations over entitlement cuts, because the deal wouldn’t raise the debt limit.
Here’s what’s important about everything Democrats would get: It’s temporary; everything expires (presumably) within a year. Here’s what’s important about what Republicans would get: it’s permanent. The tax rates won’t expire.
That means Democrats are offering a huge gift to Republicans and getting almost nothing in return because on Jan. 1, if no deal is struck, Democrats will get even more revenue than they’re asking for without conceding a thing. And if, as polls suggest, voters would blame Republicans for going over the cliff, Democrats are also offering to save Republicans from their worst impulses—which, at least for the time being, since they haven’t yet agreed, is to reject this deal.
I’m amazed liberals aren’t furious." [Source]
Actually, some liberals are furious. But since when did that matter? They are not in the driver's seat. Sadly for America, the guys (and gals) in the driver's seat are going way too fast to stop in time to avoid the cliff up ahead.
33 comments:
This fiscal cliff nonsense is all Obama's fault. He doesn't want a deal, he he doesn't care about the economy, he just wants to win.
But we're the dumbasses who re-elected him. Depression here we come.
Field, you write some awesome stuff man, Happy New Years to you and yours.
"my already high taxes" There is nobody in the US that has "high" taxes. Our taxes are criminally low, that is why we can't pay for things like bridges and teachers and research. Anyway, going over the fiscal cliff is a good thing for many reasons.
Well it's 11:54 here so almost New Years here so Happy New Year!
My dearest Mr Field, I once advised you to buy gold/silver but you did nothing. What is it about our people that they do nothing? Obama is like that. Anyway, the result was you missed out on thousands of dollars you could have made and given to Mrs Field.
Now once again I am advising you to buy some GOLD AND SILVER. The upward movement in precious metals is going to take off shortly. Make sure you are on the train before it leaves the station. There is A LOT of money to be made and it will more than compensate for the taxes your black ass will have to pay to the Master.
Sincerely,
BB (Black Broker)
I swear, Mitch McConnell looks every bit of the racist that he is. He doesn't have to say a word, his pasty snow white face with a slit for a mouth says it all.
As a matter of fact, the GOP is an ugly lot of white men. No one could possibly think they are civilized human beings with hearts and souls. Nope. At best, they are crusty old dolls related to Chuckie.
Happy New Year to all. For those of you in the Eastern time zone, 2013 is almost here.
Mr Field, I will be putting 80% of my portfolio into gold and silver for the month of January.
Afterwards, I will start to take profits and start scaling back.
Please make a note of this.
BB
Philosoraptor said...
"There is nobody in the US that has "high" taxes. Our taxes are criminally low
==========
Spoken like a true mooch.
You may not pay any taxes, but people like me who produce value sure do.
We spend obscene anounts on teachers and research. Education spending per pupil has increased 20 fold since 1970. And if we aren't spending enough money on bridges, it's because 62% of the federal budget goes to entitlements.
When the real cliff comes, those EBT cards are going to stop working, and you are going to have to start.
If the republicants get to kick the sequester down the road this time, they will eventually bring it back to hang on Obama's nutsack.
Let's hope Field's New Year's resolution will be to post comments faster and not leave me hanging.
Wow! that was a fast post. Thanks Field. You are getting off to a good start.
Dr. Queen why didn't you sign your name you ashy racist bitch ? This was obviously you. "SETAN PUTIH "
Judging by the response time on FN this year is going to be a fast one. Buckle your seat belts folks.
FIELD, HAPPY NEW YEAR TO YOU AND WIFE. MAY YOU HAVE A PROSPEROUS AND HEALTHY YEAR. AND THANKS FOR THE MANY WONDERFUL POSTS IN 2012!
PEACE.
I hear you Field. Happy New Year despite the crap!!
Silliness.
What exactly were the totals of the spending cuts moonbats were going to give? What were they? What corruption and fraud were they going to eliminate how much was it for?
What were the tax increases Obama wants going to provide and how would they impact the deficit?
Total Bullshit.
The ones who are screwing your royally are your moonbats who play class warfare, take everything everyone has waste it and fool you into thinking all you need to do is get a little more and it will be all fine - It wont'. Not even close.
Your democratic masters are killing the economy by refusing to be adults and look at waste and trim some fat.
You think you are getting something free? HEH. They are running a ponzi scam by printing money; it's almost all over. The dollar is worth less and less and soon enough those EBT cards WILL be empty.
What a ridiculous party of fascists Democrats have become.
WASHINGTON (AP) — The U.S. government is running up against its $16.4 trillion borrowing limit and is taking steps to avoid default.
Reaching the limit Monday sets up another dispute between the White House and Congress over taxes and spending in the new year.
Treasury Secretary Timothy Geithner says the government will take a series of accounting measures to avoid defaulting on its debt. On Monday, it suspended the issuance of new debt for two government retirement funds.
Last week, Geithner said the measures would save about $200 billion and avoid default for about two months.
Field,
You got some bad information. It was democrats who refuse to deal. They want another 1/4 day of funds to run the government waste factory.
A leading progressive group emailed all House and Senate Democratic staff Monday evening to urge them to reject the fiscal deal now coming into focus because it would reportedly extend the Bush income tax cuts up to the $400,000 threshold, not to the $250,000 threshold long pushed by Democrats.
The higher threshold “violates progressive principles” because it means billions of dollars will have to come out of the pockets of working-class families to pay for a tax break for wealthy people (i.e., those in the $250,000-$400,000 bracket), reads the email from Adam Green and Stephanie Taylor, co-founders of the Progressive Change Campaign Committee.
Damn, it's only 11:15p on the West Coast and nobody to talk to on FN. I can't sleep and Jan 1, 2013 is just another day to me.
How I long for the old days on FN when Field would leave his blog open for us to share our comments. Now there is nothing to do but cry. That's the way it goes for Black folks. Things don't become freer for us, they become more restrictive. And a lot of it is done by our own folks.
BTW brother Field, did you know that Kerry Washington who played Django's wife is Jamaican? I bet you didn't know that. There sure are a lot of successful Jamaicans in America.
"A leading progressive group emailed all House and Senate Democratic staff Monday evening to urge them to reject the fiscal deal now coming into focus because it would reportedly extend the Bush income tax cuts up to the $400,000 threshold, not to the $250,000 threshold long pushed by Democrats."
Link please.
FN...you seem to have ignored Obama's most recent attack on Social Security. Please read BlackAgendaReport so you will become more aware of Obama's agenda. BUT in case you don't have the time...here is part of the article by Glen Ford:
A Black Agenda Radio commentary by Glen Ford
After four years of maneuvering, President Obama finally has his White Whale, Social Security, within harpooning distance. “Obama has largely neutered Social Security’s traditional congressional defenders, who know perfectly well what their president is up to, but will not directly oppose him.”
Obama’s Historic Assault on Social Security
“He can accomplish what Republicans only dream about.”
President Obama and his Republican partners in austerity have choreographed a kind of bi-partisan ballet, in which the dancers reach out to each other in slow motion, their fingers almost touching, teasing the audience. These cheap and transparent theatrics are designed to transmit a soap opera-like sense of drama: “Can the two parties come to a compromise for the sake of the country?” But, the fact is, Obama and the Republicans reached most of their grand bargain more than a year ago, when they slashed $1.7 trillion out of domestic spending over a decade. As liberal Obamite Robert Kuttner, of Demos, points out, there’s very little left to cut except Medicare and Social Security.
Social Security has always been Obama’s Great White Whale; he’s conspired with Republicans and right-wing Democrats to harpoon the mother of all New Deal programs since the very start of his presidency. But Social Security is not an easy mark. George Bush found that out in his second term, when he suffered his worst domestic defeat in attempting to privatize the program.
It would take a Black Democrat, fresh from a near-landslide election, to put Social Security on the chopping block, as Obama did in January of 2009. But before he could move in for the kill, Obama and his allies had to convince the public that Social Security is a major contributor to the federal budget deficit – which is a lie.
“Social Security runs on its own stream of revenues.”
Here you go
http://www.huffingtonpost.com/2012/12/31/fiscal-cliff_n_2388589.html?utm_hp_ref=politics#52_progressive-group-fiscal-deal-violates-our-principles-should-be-opposed
But this is all ridiculousness anyway. The fiscal cliff isnt' some number that means nothing, its' simply that our politicians have spent trillions more in the last four years than taxpayers have given them and as such have brought Americas economy to near collapse - that is all this is.
So while Obama's media and democrats focus on who to take more money from - what is really happening is politicians simply get to spend more money at the entire countries expense.
The truth about the fiscal cliff, in simple terms, is that the President and Congress deliberately created the economic crisis our country faces. Their massive spending is intentional and, clearly, it hasn’t helped us; it has hurt us. Their intention all along was to continue to take more and more from the people, thereby increasing their power and wealth – and extinguishing ours. How better to expand the ranks of the poor, further de-industrialize America and destroy, from within, a once-great and prosperous nation?
http://noisyroom.net/blog/2012/12/31/the-truth-about-the-fiscal-cliff-in-simple-terms/
“He can accomplish what Republicans only dream about.”
President Obama and his Republican partners in austerity have choreographed a kind of bi-partisan ballet, in which the dancers reach out to each other in slow motion, their fingers almost touching, teasing the audience. These cheap and transparent theatrics are designed to transmit a soap opera-like sense of drama: “Can the two parties come to a compromise for the sake of the country?” But, the fact is, Obama and the Republicans reached most of their grand bargain more than a year ago, when they slashed $1.7 trillion out of domestic spending over a decade. As liberal Obamite Robert Kuttner, of Demos, points out, there’s very little left to cut except Medicare and Social Security.
---
---
These democratic "economists' seem to live in a universe where reality doesn't intrude.
Social security does not run on it's own revenues. Those revenues have already been spent and much of them given out/unsecured promised SS is 31% underfunded, meaning it has liabilities and spends 31% more than it takes in.
The other problem with this theory is it is based on another of Obama's outright lies. He never as he said cut the deficit by 1.7 trillion in 2011, why in the world does he think Americans are this stupid even if all the Lamestream media parrots it? If he did cut spending by 1.7 trillion then we wouldn't be at the debt ceiling and playing games. He INCREASED the debt by 1 trillion in just 2011 alone. Anyone knows the deficit did not go down by 1.7 trillion.
According to the White House Office of Management and Budget, federal spending was not cut by $1 trillion in 2011. In fact, in fiscal 2010, federal spending was $3,456,213,000,000. In fiscal 2011, federal spending was $3,603,213,000,000. That was an increase of $147 billion.
While President Obama did not cut federal spending by $1 trillion in 2011, he did increase the debt by more than $1 trillion in that fiscal year. In fiscal 2011, according to the White House Office of Management and Budget, the federal deficit was $1,299,595,000,000. That was up from a deficit of $1,293,489,000,000 in fiscal 2010.
:) Oh honey I went over the fiscal cliff around 2001 and was never able to climb back up!
Just made myself comfy down there and settled in. Made it my new home so to speak,lol
.
"Accept the things you cannot change";)
Anonymous Anonymous said...
I swear, Mitch McConnell looks every bit of the racist that he is. He doesn't have to say a word, his pasty snow white face with a slit for a mouth says it all.
As a matter of fact, the GOP is an ugly lot of white men. No one could possibly think they are civilized human beings with hearts and souls. Nope. At best, they are crusty old dolls related to Chuckie.
Ahh we have the average Obama voter right here. Racist to the core and standards so warped she thinks shit is something to go
And who is your favorite politician from the Congressional Black Caucus? Do tell.
Happy New Year Field
It's true that the Republicans will do anything, including burning down the whole country, in order to protect the rich. Meanwhile, the Democrat politicians are mainly interested in special privileges for minorities, bit only after the politicians' own nests are very well feathered. Obongo is looking out for himself after his 'retirement'. Thus whole staged drama was just another dog and pony show.
People who think that Obongo is not controlled by the filthy rich are naive and stupid dupes. We call them "liberals" and "field negroes" and "Wayne Bennett".
We have hit the Achilles heel of Democracy. We are doomed.
) Oh honey I went over the fiscal cliff around 2001 and was never able to climb back up!
Just made myself comfy down there and settled in. Made it my new home so to speak,lol
.
"Accept the things you cannot change";)
12:44 PM
----------------------------
You have a good point. We should accept cuts in Social Security, Medicare and Medicaid along with being unemployed at twice the rate of others. Yep, just accept anything Obama throws at us.
Like you, we should make our bed based on how he treats us-- It's going to smell like piss, cause Obama and the Dems are definitely pissing on us black folks. But as you have indicated we should accept it, and we have. That's why 96% of us Negroes voted for him. We are used to having NOTHING.
HAPPY NEW YEAR!
I agree with the anon above that says we need to tackle waste, fraud and abuse. Letting Medicare bid for lower prescription drug prices will save billions, also look at Pentagon spending. I agree with the conservatives, let's trim some fat before we start taking money away from grandma.
I have noticed that 'some' people's minds are imprisoned with racism. Can't we all just get along? Can't we all see our common humanity and just love each other for the year 2013? Just asking.
Some of you trailer park Whites need to repent and some of you prejudiced Negroes need to let go and join in with the rest of America instead of acting like America should change its ways to suit your sick black asses. Yeah, I said it. Hell, I can't even go to a movie without some of you folks fucking up everything from talking at the screen, to talking on your damn cell phones to shooting at the screen.
It doesn't take God to know that some of you Negroes should never be allowed in a theatre. I am still pissed off that some ignorant ass sistah ruined Django for me and others while she talked on her got damn cell phone. Sometimes I wish I could have bitch-slapped that moron.
Field
You say Fuck you to conservatives because Josh told you the democrats were offering a good deal.
Sure it's a good deal if you are looking to destory the already screwed up U.S Economy , completely devalue the dollar and have it replaced when all is said and done.
The senate bill adds another 330 billion in spending, for every single dollar cut another 43 are spent and according to the CBO it adds 4 Trillion to the deficit.
Absolutely horrific, irresponsible and outrageous. You don't compromise to spend 2,000 dollars because you can't afford to spend 10.
Democrats need to be impeached, because this did nothing but provide more graft for the corruption machine; hugely run up public debt and the deficit and will hamstring the economy and the horrific jobs situation even more
AND the debt ceiling is two months away with some game playing by the feds. The debt ceiling isn't a political game, it means we owe over 16 trillion dollars and this is not counting our unfunded liabilities for every program out there estimated at 160-200 trillion.
There is no money it's all paper fraud.
This house of cards is about to come crashing down and then your 401k will be worthless... mark my words.
All this class warfare and the democrats who claim they just have to have more money...don't really know anything because they haven't' produced a budget in 4 years since Obama has been in office.
This time will be remembered in history as the worst time for the U.S under the most incompetent president when incompetent angry children held the majority in the white house and senate.
http://www.reuters.com/article/2013/01/01/us-usa-fiscalcliff-cbo-idUSBRE90008H20130101
Anonymous said...
Yep, just accept anything Obama throws at us.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Well, when I went over that cliff the Republicans were in office :)
As I remember it was right after the World Trade Towers disaster that businesses started downsizing and closing...
You guys kinda need a depression to get industry moving in USA again. Problem is everything costs too much to be made in the states so it's outsourced to China, Taiwan etcetera.
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