(CNN) - Congressional leaders brought the "fiscal cliff" upon themselves, CNN chief political analyst Gloria Borger says.
"Borger: Cliff is Congress' own creation"
It's also a bit of legal fiction the MSM latched onto and has inflated in order to give themselves a nasty controversy to demagogue.
They sure did. Mittens losing the election threw a real monkeywrench in their plans. They just KNEW they had it in the bag. I can't forget looking in Willards lying eyes as he kept saying, "When I'm President". I still shudder when I think of it.
@Facts don't lie, don't worry I would never hold the ramblings of an Ancient Texan against all Texans! I actually have a friend that moved there a few years ago and he LOVES it.
Borger: Cliff is Congress' own creation
The GOP congress would have loved to have passed those tax cuts indefinitely.
Taxing the top 2% more than the rest of the country is not the answer either. In fact if you took all the money that the top 2% had, all the money from all the banks in the USA, NASCAR, NBA, NFL,PGA, LPGS and every other big sports organization with all prizes plus taxed every person in the USA 100% of their total income you would still not have enough to pay what the USA owes. We have reached a tipping point where we can barely keep up with the interest payments on what we owe thanks to our political leaders in the House, Senate, and Executive Branch. They have totally lost all preception of what it means to have a balanced budget and keep spending more than they take. Imagine if you will, trying to do that personally, what would happen? You would be happy and others around you would be happy until the bills came due and then you file for bankrupty and everyone gets the shaft. Well, guess what, we are about there. The only problem is the Legislators got theirs becasue they passed laws to protect themselves in retirement, healthcare, travel, protection, and have buddies to enforce it. What have we got.......diddly!
Of course it's Congress own doing but we too have to take responsibility for sending doctors and lawyers to Congress who aren't Economist and refuse to listen to economist. Doctors treat patients, lawyers make arguments and Economist do the Math so we can't expect these Congress people to understand magnitude and complexities of economic issues for the Country, they aren't qualified, people and it's time we recognize that. If we as a country are going to remain an economic power we must hav
I think Borger is right. The fiscal cliff is the creation of John Boehner's Republican congress. Just like the war on terror and The Great Recession, we would not be in this mess had not the Republicans created it
Are we sure it is really a cliff. Obama loves to talk about how great it was under Clinton, even had a budget surplus at the end of his term. Obama and the Dems say the economy was just great with the Clinton tax rates on the rich. But just going back to the Clinton tax rates on the rich does not get you back to the Clinton era. The tax rates were higher on everyone back then. And accouding to Investors Business Daily the average spending as a percentage of GDP under Clinton was 19.8% and under Obama it has been 24.4%. So the sequestraton spending cuts bring us closer to Clinton era spending too. And there also was no Obama payroll tax cut under Clinton either so let those expire too. Falling of the cliff takes up back to Clinton era fiscal policy when all was wonderful. Raising taxes on just the rich does not bring us even close. Why go part way Dems when we can go all the way?
Absolutely right. Congress could have resolved this two years ago. Calculations were made by the people entrusted with power...and Obama out foxed the good ole boys....they still can't figure out how he could do it but he did!! It's hilarious to watch them scratch their heads and scream and complain about cheating and too many voters and everything under the sun EXCEPT the glorious TRUTH!!!!
Sniffit- "Legal Fiction"?
Nothing fictitious about the middle class having to pay higher taxes because the stupid old GOP wants to make sure the rich don't have to pay a fair rate of taxes. Think about it. The richest 10% pay 60% of the taxes, but they own 80% of the wealth. SO the people who own 80% of the wealth pay only 60% of the taxes. No wonder the middle class is losing ground on wealth.
Well now we might avoid it because Boehner has seem to see the light..Much like he was threatened with a political mutiny if he didn't act because the republicans careers were the ones going over the cliff if a comprise wasn't reached and they know it!!Even the wealthy are willing to pay more so republicans aren't really protecting anyone isn't that pathedic!!
"Borger: Cliff is Congress' own creation"
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Yes, we all know this.
But Gloria, it is strange that CNN's David Gergen has never acknowledge that fact.
Of course he would it would not make a dent in the debt we have now where are you people coming from anyway.
Obama has another four years to destroy this Country when will you wake up.
tax rate 250,000 below including tax break increases 0.5% every 250,000 having a 50% cap.
I didn't think I'd hear one of the chattering class of Villagers admit to that gigantic fiction. This is such a ginned-up controversy, entirely of Congress' own making.
No austerity for the poor!
No tax cuts for the wealthy!
Enough class warfare, the rich investor class have been socking it to America & the labor class for over 35 years now, mostly thanks to Ronald Reagan.
Government is not the problem, Republicans are, & now Government is the solution to their obstruction & undermining behavior.
Reform the filibuster, bring back the talking requirement.
Sniffit: it's not a cliff; it's a "cliffpocalypsemagedonacaust" (trademark Jon Stewart) that has the media hyperventilating so wildly.
For me it is Republican intransigence that is the problem stemming from loss of face and a stupid pledge.
The quick and best fix is simple:-
a) Republicans agree the tax rate increase on the rich.
b) They insist that spending or entitlements = Boehners $600bn to finalise the deal.
This latter (b) has been thru many mills Erskine Bowles and the gang of 6. I am sure in a couple of weeks a deal is then doable.
Then negotations can start after that about and overall tax reform and spending reviews to be part of the 2013/2014 budget process
Then joint meetings of the House and Senate tax and Budget and Ways and means comittees on the white hose budget proposal, each side coming up with independent variations of white house plan that the CBO evaluates, inc white house plan. All CBO evalutions are reviewed at House and Senate committiee levels, Then a compromise bill generated.
If needed final compromises are agreed at a private closed door meeting (Or meetings no interim disclosures) of House and Senate majority and minority leaders and the President. Then once agreed its up down vote in the House and Senate by agreement, no filibusters or cloture votes needed.
Yes, it can't be more correct. And can't be shorter either perhaps, with a single sentence article.