New York (CNNMoney) – What happens if Washington fails to avert the fiscal cliff before the end of the year?
Some lawmakers and pundits suggest it won't be a big deal to go over the cliff for a short while. But that is assuming a lot, especially since Congress will be navigating uncharted waters.
The Tea Party probably wouldn't mind going over the cliff, if they can blame it on the President. The master plan had been to win the election, and then cherry pick the spending cuts they liked and didn't like.
Not reaching a deal before the end of the year is bad. Going over the cliff is bad. A deal needs to be made BEFORE Christmas. This political brigsmanship is already having an adverse affect on the markets. The closer we draw to the new year, the more we're going to see stocks tumble. This is a very dangerous game that the republicans are playing. They need to pass the middle class tax cuts NOW!!!
So for the Repubs driving our economy off a cliff under Bush wasn't enough, now they want to take everything off their cliff.
Aren't any grown ups there who can sit down, reason and come up with something concrete which is beneficial to majority???? We are starting being tired of hearing from people who can not decide on something. Why are you there for????
I say : GO OVER IT – I Say : put them in a box Smaller than a Mouses ear, and let them squirm around.
It is most likely overblown but whatever happens those in need will be hit the hardest. This self-mutilation in order to demonize or destroy the other party has been going on for years and it does not look like it is going to stop. Either way I do not think it will impact Obama's spending binge in the least but he will have the legacy of a high unemployment president for his two terms.
The perils of going over the cliff is that some will land with a nice bounce and others will land with a messy, irreparable S-P-L-A-T!!!
The perils of going over the cliff is cutting off to the deadbeats that elected Obama. 90% of them have never held a job much less paid taxes. Sure they want to tax more, they want more government handouts.
Biggest peril I see is that fat-cat defense contractors won't get as much of OUR money to make unnecessary military hardware. The $2000 extra we middle-class folks are going to pay won't go to Ospreys, at least.
It's a shame, though, that GOPhers won't join in keeping the tax cut for us. We'll remember. 2 years from now.
"A deal needs to be made BEFORE Christmas."
Sorry, but Obama already publicly stated that as his goal, which means the GOP/Teatrolls have already made it a part of their agenda to prevent any deal prior to Xmas.
Both sides are going to throw us over the cliff.