CBO warns of US falling off 'fiscal c...

CBO warns of US falling off 'fiscal cliff'

There are 80 comments on the Cleveland.com story from May 22, 2012, titled CBO warns of US falling off 'fiscal cliff'. In it, Cleveland.com reports that:

A new government study released Tuesday says that allowing Bush-era tax cuts to expire and a scheduled round of automatic spending cuts to take effect would probably throw the economy into a recession.

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Since: Feb 07

Location hidden

#64 May 30, 2012
The CBO should be investigated.
The. Waste. Is in. Fake. Calculation.

Since: Apr 12

Location hidden

#65 May 30, 2012
Nearly 50% of Americans, or about One in Six are on “some kind” of government assistance:
USAToday wrote:
WASHINGTON ( Aug. 30, 2010)— Government anti-poverty programs that have grown to meet the needs of recession victims now serve a record one in six Americans and are continuing to expand.

More than 50 million Americans are on Medicaid, the federal-state program aimed principally at the poor, a survey of state data by USA TODAY shows. That's up at least 17% since the recession began in December 2007.
Read More Here: http://www.usatoday.com/news/washington/2010-...
HuffingtonPost wrote:
(Dec. 05,2011)— Means-tested programs, designed to help the needy, accounted for the largest share of recipients last year. Some 34.2 percent of Americans lived in a household that received benefits such as food stamps, subsidized housing, cash welfare or Medicaid (the federal-state health care program for the poor).
Read More Here: http://www.huffingtonpost.com/2011/10/05/almo...
CNN wrote:
NEW YORK (April 13, 2011)— One in six Americans is receiving help from the government, just as fiscal austerity threatens to reduce some of that aid.
Soaring unemployment during The Great Recession has driven tens of millions of people to the dole. Enrollment in Medicaid and food stamp programs are at record highs, while unemployment insurance rolls remain at elevated levels. Many people depend on more than one program.
Read More Here: http://money.cnn.com/2011/04/12/news/economy/...
USAToday wrote:
WASHINGTON (*Dec. 15, 2011)–About 97.3 million Americans fall into a low-income category, commonly defined as those earning between 100 and 199 percent of the poverty level, based on a new supplemental measure by the Census Bureau that is designed to provide a fuller picture of poverty.

Together with the 49.1 million who fall below the poverty line and are counted as poor, they number 146.4 million, or 48 percent of the U.S. population. That is up by 4 million from 2009, the earliest numbers for the newly developed poverty measure.

The new measure of poverty takes into account medical, commuting and other living costs. Doing that helped push the number of people below 200 percent of the poverty level up from 104 million, or 1 in 3 Americans, that was officially reported in September.
Read More Here: http://www.usatoday.com/news/nation/story/201...

Personally, I suspect the CBO might be on to something this time.

But that is just my susiicion... well, not just mine apparently.
government is the problem

United States

#66 Jun 4, 2012
toilet paper of the month club,coupon of the day play, friend of a friend end, trillion dollar dot com .middle class is really "TWICE POVERTY INCOME".we buy your unwanted gold,lets legalize mary jane,for education.credit cards the new federal reserve.every road is really a toll road,even if you dont drive. buy a new barbecue grill for the poor.tax craigslist, and everything that walks crawles or flies.give till it hurts.you save for a rainy day,wall street collaterizes it,packages it, pulls out all the derivites.then sells them. and whats left for you "PINK SLIME" and wood chip fillers.

Since: Jan 10

Las Vegas, NV

#67 Jun 4, 2012
I ain't no rocket scientist, but when you spend far more then you take in -- that's not a good thing.

Debt to GDP is 1:1. How long can we keep this up.
ad hoc

United States

#68 Jun 20, 2012
IF YOU GROSS LESS THAN $70 G A YEAR.your 401 ,ira, contributions is no more than a tax.to run the economy,all street,and governmentS,you would be better served buying copper pipe at lowes,either thin or thick wall... just try getting YOUR MONEY out before the 45 year date, its a 10% fee and another 18% tax due.amost 30%,plus state tax. and that does not include the FUND MANAGERS fees every year..its like buying a car ,you wont ever drive..

Since: Feb 07

Location hidden

#71 Jun 29, 2012
Here in Vegas wrote:
I ain't no rocket scientist, but when you spend far more then you take in -- that's not a good thing.

Debt to GDP is 1:1. How long can we keep this up.
unless you budget for the WH

Since: Jan 10

Las Vegas, NV

#72 Jun 29, 2012
RayOne wrote:
<quoted text>
unless you budget for the WH
I had to look in a history book on ancient Rome to find the last time the Senate passed a budget.

Since: Feb 07

Location hidden

#73 Jun 29, 2012
Dae don need no stinkin budget. I also like WH certification for doctors and hospitals.

Since: Apr 12

Location hidden

#74 Jun 29, 2012
Now we learn that among the provisions the Supreme Court specifically overturned was the penalty section that would mandate states expand Medicaid to cover those poor and disadvantaged uninsured…

As a result those previously uncovered, remain uncovered and even more people in those categories may not be covered as states either have to raise taxes or cut back on programs like education or services to the poor, elderly and disadvantaged to make up for the additional requirements of the ACA.

Is Obama’s ACA a good thing or as the CBO states a costly venture that might cost the taxpayers additional billions or even Trillions of dollars.

Source CBO-Yahoo News:“CBO: ObamaCare Price Tag Shifts from $940 Billion to $1.76 Trillion”

http://news.yahoo.com/cbo-obamacare-price-tag...

http://www.cbo.gov/publication/21327

http://www.washingtonpost.com/business/econom...

Oh and one other thing, According to candidate Obama and President Obama:

[QUOTE who="Obama'] "And I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase.

Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes." [/QUOTE]



Another 'O-promise' that appears to have broken in the first year of Obama's Presidency…

Since: Jan 10

Las Vegas, NV

#75 Jun 29, 2012
I believe the Senate can cut taxes on a simple majority vote. They should be able to reduce the obamacare non-compliance tax to zero.
drink the hive

New York, NY

#76 Jun 29, 2012
So In A Time Of Great Economic Turmoil - Deficit Spending - Massive Debt - And Endless War'- The Difference Is How 'They' Address Social Issues?...

http://obamadiary.files.wordpress.com/2012/06...

http://www.advisormarketingsuccess.com/wp-con...
Ron Paul 2012

Prospect, Australia

#77 Jun 30, 2012
Obama is actually "trying" to make it happens, it makes sense once you understand he is a socialist puppet of the shadow (corporate) government.

Obama is nothing but a naive fool...

Vote Ron Paul 2012
The Champion of the US Constitution

Romney & Obama
"both" serve the Zionist elite, unfortunately.
TAX THIS

United States

#78 Jun 30, 2012
LOOSING WEIGHT".. IF THE FEDERAL GOVERNMENT wanted to charge a tax SAY,$1 DOLLAR PER POUND to pay off their 16 trillion DOLLAR DEBT,....every american would have to weigh 53,000 POUNDS EACH.. OR AS HYMAN ROTH TOLD MICHaael corleone.michael were all bigger than U.S. STEEL,

“Liberal Teachers ruin Kids”

Since: Mar 09

Paradise Valley Arizona

#81 Jun 30, 2012
CBO warns of US falling off 'fiscal cliff'

This is actually what progressive democrats have wanted for yrs...Its called the Obama agenda

Remember, Never allow a good crisis to go to waste
i had a dream

United States

#82 Jul 13, 2012
i had a dream ,that some day the 6500 countyies in the 50 states would file for BANKRUPCY, yes i had a dream...that one day .checks would bounce like flubber,that the politicians would leave their washington BUNKER and realize not all clothing comes from saks.and some foreign underware gives you a rash..and use cat gut stiching,or was that burlap?..and some day FEDERAL RESERVE NOTES WILL BE PRINTED BY THE BANK OF CHINA,, yes i had a dream thats becoming REALITY
i had a dream

United States

#83 Jul 13, 2012
HAS WASHINGTONS CHIT FINALLY HIT THE FAN???????? jp moran? JPMorgan Chase said that a bad trade had cost the bank $5.8 billion this year, almost triple its original estimate, and raised the prospect that traders had improperly tried to conceal the blunder.,,,,,....3 countys file for bankrupcy.........."This is the tip of the iceberg for different reasons in different places," says Richard Brodsky, senior fellow at Demos.org and former 14-term New York State assemblyman..........200 million of clients money missing at brokerage house,......,MF GLOBAL CANT FIND $1 BILLION OF CLIENTS MONEY........$600 million pissed away sylandra,bankrupt..........and the list goes on and on AND ON........is your 401 ira NEXT OR HAS IT BEEN FLUSHED,

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#84 Jul 16, 2012
ad hoc wrote:
IF YOU GROSS LESS THAN $70 G A YEAR.your 401 ,ira, contributions is no more than a tax.to run the economy,all street,and governmentS,you would be better served buying copper pipe at lowes,either thin or thick wall... just try getting YOUR MONEY out before the 45 year date, its a 10% fee and another 18% tax due.amost 30%,plus state tax. and that does not include the FUND MANAGERS fees every year..its like buying a car ,you wont ever drive..
Or a bike with no seat?

“It's a Brand New Day”

Since: Feb 06

New Rochelle

#85 Jul 16, 2012
i had a dream wrote:
HAS WASHINGTONS CHIT FINALLY HIT THE FAN???????? jp moran? JPMorgan Chase said that a bad trade had cost the bank $5.8 billion this year, almost triple its original estimate, and raised the prospect that traders had improperly tried to conceal the blunder.,,,,,....3 countys file for bankrupcy.........."This is the tip of the iceberg for different reasons in different places," says Richard Brodsky, senior fellow at Demos.org and former 14-term New York State assemblyman..........200 million of clients money missing at brokerage house,......,MF GLOBAL CANT FIND $1 BILLION OF CLIENTS MONEY........$600 million pissed away sylandra,bankrupt..........and the list goes on and on AND ON........is your 401 ira NEXT OR HAS IT BEEN FLUSHED,
but they are TOO BIG to fail, so there.
cleared

United States

#87 Jul 18, 2012
Or a bike with no seat?....but they are TOO BIG to fail, so there.

Comparing the economy to a heroin addict avoiding withdrawal, Schiff says the only remedy is going cold turkey. The pain of such a move would be brutal for many Americans, but for working taxpayers picking up the tab the relief would be immediate and welcomed. Sounding like a more Draconian version of Ronald Reagan or even Bill Clinton, Schiff thinks reducing benefits will get more people off the dole, drive prices lower and eventually result in a more healthy economy.http://finance.yahoo.c om/blogs/breakout/bernanke-mus t-fess-level-american-public-s chiff-120411403.html
Churmudgeon

Bexar, AR

#89 Sep 29, 2012
I just can see a viable political or ballott box solution. Its Both Partys. Both Partys seem to Furhur the UN & NWO agenda. And The UN -NWO agenda is to redristribute the USA,s wealth and turn the USA into a commie socialist third world country.

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