Overnight Fiscal Cliff Open Thread

blog_fiscal_cliff

As you probably know by now, the House passed the Senate’s fiscal cliff compromise. It’s all revenue and almost no spending cuts. The deal extends the automatic budget cuts out two months and doesn’t change the debt ceiling. The Bush tax cuts are locked in for those making $400,000 (or $450,000 for married couples) and there’s a extensions of other dubious tax credits. Obama got his tax increase on the wealthy and everything else got punted down the road.

Consider this your place to vent or prognosticate, as this mess is far from over…

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Posted by on January 2, 2013.
Filed under Barack Obama, Congress.
Doug Johnson is a news junkie and long time blog reader, turned author.

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  • Par4Course

    Congress – including the Republican leadership in both houses – has again postponed any meaningful action to address the national debt, annual $1 trillion deficits and the coming bankruptcy of Social Security and Medicare. The “good news” is that our children, grandchildren and great grandchildren will have the opportunity to pay for our refusal to control profligate spending. Nice going folks.

  • herddog505

    Well, the GOP just made themselves complicit. The ONLY thing they’ve had going for them with their own base has been, “Hey, we didn’t go along with it.”

    They’ve now gone along. Congrats, guys: you’ll STILL be the “Party of No”. You’ll STILL be blamed if (when) the economy goes over the cliff. Only now, you can’t claim that you weren’t a part of it.

    F*ck ‘em.

  • Vagabond661

    Democrat Light. Less Filling. More Waste.

  • http://mostlyfling.com Fderfler

    Twenty-one of 22 incumbent senators were re-elected, and 353 of 373 incumbent members of the House were re-elected. The American people have re-elected 94 percent of the incumbents who were running for re-election to an institution that has an approval rating of about 9 percent. The only conclusion I can draw is that we are a nation of idiots.

    • Vagabond661

      So bottom line they gave themselves a raise, increased our taxes and refused to talk about a budget.

      Yep, pretty stupid.

  • GarandFan

    Now that Barry has his tax increase, what excuse will he offer for an increasing deficit?

    • jim_m

      Bush did it.

      And Bruce and Chico will buy it without question.

    • http://www.rustedsky.net JLawson

      Mean, evil Republicans stealing money out of the wallets of the hard-working, what else?

      If what you’ve got is working, or was working, you don’t change it. Obama’s been able to fool enough people into blaming the ‘rich’ for his insane annual deficit spending despite the ‘fair share’ he was demanding amounting to much less than a quarter of it… and likely he’ll be able to use that ‘fair share’ amount to justify even more deficit spending.

      Why should he change the story now?

    • Hank_M

      Probably the repubs, for not giving him everything he wanted.

      And he’ll lie some more, just as he did over the weekend claiming”
      ‘I Cut Spending by Over a Trillion Dollars in 2011′.

      Amazing. And for quite a while, I thought Clinton was the best liar I had ever heard.

  • Commander_Chico

    Whew, barely escaped a tax increase.

    • 914

      Shame on You!! Pay your fair share!

      • Commander_Chico

        It doesn’t make any difference, it just goes back in my pocket anyways.

        • 914

          Then I guess “Whew” was a pointless comment.

  • Jack Zimms

    I haven’t seen a good explanation on this bill. Does it just cut some of the automatic tax cuts with unemployment extension only type of deal or does it do away with those plus all the automatic spending cuts?

  • Sky__Captain

    Let’s put this perspective, shall we:

    http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/12-2/Tax%20Hike%20In%20Perspective.jpg

    The “rich” simply don’t have enough money for the SCOAMF to tax away to cover his spending.
    (Althought Comrade Chico and Bruce will deny this.)

    • http://www.rustedsky.net JLawson

      Like gun control – it’s not about the numbers, it’s about the feelings. Obama’s been hating on the rich since he first got into office – and now we’re going to see that his ‘tax the rich’ and ‘make them pay their fair share’ won’t do a damn bit of good… other than giving him a thin fig leaf to cover even MORE spending.

  • Ken in Camarillo

    Don’t all revenue bills have to originate in the House?

  • jim_m

    For a long time I have suggested that the end game for the dems was to destroy the country and the economy by monetizing the debt. Now they are seriously advancing just that idea.