I've stated in the past, it's exactly what Obama wanted. He and his sycophantic press will of course, blame it entirely on the Republicans. Boehner was on a fools errand from the get-go. I'm proud of the conservatives that understand "IT'S THE SPENDING, STUPID!"
Here's a prevelant view by anyone with a modicum of common sense.
"It's not the U.S. economy that's facing this alleged cliff," writes our friend Doug Casey, "it's the U.S. government.
"It just goes to show how hopeless the situation is when people equate the government with the economy. They're two entirely different things. The only way to revitalize the U.S. economy is a vast reduction in taxes and a vast reduction in government spending.
"Instead, these idiots are arguing over how much to raise taxes and how little they can cut spending. Of course, it will be a disaster."
He goes on to say in effect, now's not the time to be in the market, and especially in the bond market.
Come to think of it, when I watch the 'talking head' shows concerning SOBs, they are in a panic when talking about the 'cliff'. So I wonder if we are to assume the last thing they want to happen is going 'over', so THEY don't crash. Seems to me, they would rather see higher taxes, than a complete collapse in their job welfare. Some of you that carry large portfolios might be able to explain it so I can be better informed about what I'm listening to.
Like I've stated on several occasions since Obama's re-election, he couldn't care less about SOLVING the economic problems, in fact he's relishing in the idea of this nation's economy being crushed. His only desire is to get the Republicans to cave on their most iconic principle of the party...NOT RAISING TAXES. His total focus is to demand higher rates for the earners over _______ whatever level, it doesn't matter...it's the principle of it that he wants crushed. That is ALL the prince of fools is after. He is, after all, the leader of the "class envy crowd"...the SFN and OWS crowd...the I'm for getting from Obama's stash crowd...the free ice cream crowd...that IS his constituancy.
Only the totally imbecilic fools in this nation believe the taxes from the "rich" will resolve all the deficit problems. When in reality, even the majority of double digit IQs over 75 understand that if the government took a 100% of every dollar owned by the millionaires/billionaires, it wouldn't run this money-grabbing government sow for a month.
Fortunately, there are some in Congess who understand that, and also realize that it wouldn't matter how this fiasco is determined, it will ALWAYS BE BLAMED ON THE REPUBLICANS. So, what's the worst that can happen? At least they will remain true to their constituants that ALL KNOW..."IT'S THE SPENDING, STUPID"!!!!!