Share on Google Plus Share on Twitter Share on Facebook 1 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 2 (3 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Article Stats   1 comment

OpEdNews Op Eds

Fiscal Cliff Postmortems

By (about the author)     Permalink       (Page 3 of 6 pages)
Related Topic(s): ; ; ; , Add Tags Add to My Group(s)

Must Read 1   Supported 1   Valuable 1  
View Ratings | Rate It

opednews.com

Become a Fan
  (191 fans)

"Instead of fueling economic growth, this credit/debt threatens to absorb the economic surplus, plunging the economy into austerity, debt deflation and negative equity."

America's "financial system is broken." Wall Street bosses control government policies. Public debt rises exponentially. Money printing madness sustains it.

Imperial and corporate priorities punish ordinary Americans most. The worst is yet to come. Bipartisan complicity plans it.

On January 1, London Guardian contributor Heidi Moore headlined "Congress' manufactured non-solution to its manufactured fiscal cliff crisis," saying:

"The fiscal cliff deal doesn't stop tax hikes, doesn't reduce the deficit, (and) doesn't avoid spending cuts".and it's not even a deal."

Winston Churchill once said America eventually does the right thing after exhausting all other alternatives. He didn't know how Washington operates today.

It manufactured a fake fiscal cliff crisis. Duplicitous fear-mongering hype substitutes for doing the right thing.

" The much-praised deal is as thoughtless and hasty as you would expect from anything cobbled together at the last minute."

Instead of resolving debt problems responsibly, enactment and planned legislation assures "an even bigger cliff, a fiscal mountain."

It grows annually. Expect 2013 legislation to fall woefully short of addressing it responsibly. Both parties share blame. So does Obama. Self-congratulatory postmortems conceal dark policies planned.

Moore quoted Professor Emanuel Derman's reaction to Senate passage. "This is all theater," he said. It's "full of sound and fury, signifying nothing." 

Following House passage, Moore added it's only "the first act." It's a pathetic tepid one. It conceals planned hardball 2013 legislation.

Dean Baker contributed his own Guardian article. He headlined "Obama's tax threshold concession bodes ill for debt ceiling talks," saying:

Congress and Obama ignored Congressional Budget Office (CBO) and other forecasts. They predict higher tax rates and large spending cuts risk tipping America's fragile economy into recession.

John Williams and other responsible economists say America's already in one. Its economy is in worse shape than acknowledged. Deeper recession is likely. Protracted Main Street Depression already affects most ordinary households.

Next Page  1  |  2  |  3  |  4  |  5  |  6

 

I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
1 people are discussing this page, with 1 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)
Stephen Lendman once again has hit the nail on the... by M.I. Lee on Thursday, Jan 3, 2013 at 8:02:34 AM