post election problem : fiscal cliff

[mogulgangi]

The average Joe has no clue what it is, the candidates have not mentioned it once in a debate, the poor will never have a clue about it, corporate America is beginning to prepare for it...

A potential reduction of GDP of 5%..while our current GDP is at 2.1..a new recessions...

What is the fiscal cliff??
The expiration of the bush tax cuts..no extension will hurt GDP by 1.3
Expiration of payroll tax cuts..no extension will hurt GDP by 1.5
Extension of unemployment benefits.if granted will hurt GDP by 1.3
Obamacare..if granted, will hurt GDP by 2.5

Many more things...hope you guys saved for a rainy day

[tbombz]

extending unemployment benefits is not going to harm gdp, its going to increase it.  your also missing the other half of the fiscal cliff equation - mandatory cuts in spending across the board.  thats going to cause big drop in gdp

[tonymctones]

extending unemployment benefits is not going to harm gdp, its going to increase it.  your also missing the other half of the fiscal cliff equation - mandatory cuts in spending across the board.  thats going to cause big drop in gdp

temporary unemployment I think the term is frictional or whatever isnt a bad thing. Ppls skills and abilities need to be shuffled around to better fit the needs of businesses.

Cutting govt spending MAY temporarily cut GDP but that money will find its way back into the economy in a much more efficient way and we will get more bang for our buck

The answer in the long run is less govt spending which is why we should fight increasing govt spending at everyturn.

Once you give ppl free shit, its real hard to take it away...