We avoided the frisky cliff

[Ted S]

Actually, I've always thought it was a faux cliff and more of a political way-point. But we've survived the first few hours of the new political year without the market tanking. Of course the USA is still on track for bankruptcy but at least the current batch of politicians once again successfully avoided making any truly difficult decisions!

The only good news in this deal is that the tax rates are now as permanent as they can ever get since today's congress can't bind future congresses to anything.  Certainty is usually better than uncertainty as far as taxes go.  And that's all I've got to say about that.

[wbcoleman]

Actually, I've always thought it was a faux cliff and more of a political way-point. But we've survived the first few hours of the new political year without the market tanking. Of course the USA is still on track for bankruptcy but at least the current batch of politicians once again successfully avoided making any truly difficult decisions!

The only good news in this deal is that the tax rates are now as permanent as they can ever get since today's congress can't bind future congresses to anything.  Certainty is usually better than uncertainty as far as taxes go.  And that's all I've got to say about that.

It is amazing that "the Bush tax cuts" are now permanent.

[clistensprechen]

Actually, I've always thought it was a faux cliff and more of a political way-point. But we've survived the first few hours of the new political year without the market tanking. Of course the USA is still on track for bankruptcy but at least the current batch of politicians once again successfully avoided making any truly difficult decisions!

The only good news in this deal is that the tax rates are now as permanent as they can ever get since today's congress can't bind future congresses to anything.  Certainty is usually better than uncertainty as far as taxes go.  And that's all I've got to say about that.

It is amazing that "the Bush tax cuts" are now permanent.

Not for the top tier, they're not.

I also note with amusement that the stock market likes the deal that the allegedly "pro-business" party whined about being bullied into.

I note with further amusement that the reason the right caved is that they were convinced that it's better to quit whining about this deal and "keep the powder dry" for the upcoming fight over the debt ceiling, when the only thing shutting down the government over that was always a net loss for the GOP in mid term elections.

But the GOP *IS* crazy enough to get sold on the idea enough to vote for the fiscal cliff bill.    Joe Biden---DAMN you're good.

And add to that the debacle over the Sandy Relief bill--Cristy is now running for re-election by running against his own party.  The GOP definitely has a death wish.

[Ted S]

Not for the top tier, they're not.

You're correct. Obama and his ilk were successful at playing the envy card and were able to convince the majority that it is morally right to force an unpopular minority to carry even more of the load than they already do.  Only a shallow thinking electorate would consider this fair.  Me, I think the fair thing is when laws (taxes) are applied to everyone equally.

I also note with amusement that the stock market likes the deal that the allegedly "pro-business" party whined about being bullied into.

The stock market is said to be forward looking but IMO they aren't looking very far.

I note with further amusement that the reason the right caved is that they were convinced that it's better to quit whining about this deal and "keep the powder dry" for the upcoming fight over the debt ceiling, when the only thing shutting down the government over that was always a net loss for the GOP in mid term elections.

The reality is that politicians win by doing the kind of things that appeal to an uninformed electorate.  If you have one guy telling voters that they can eat all the cake and ice cream that they want and not get fat and another telling them the truth, people will take the cake an ice cream guy -- this is the age of Obama you know.

And add to that the debacle over the Sandy Relief bill--Cristy is now running for re-election by running against his own party.  The GOP definitely has a death wish.

Governor Christy should be voted "most likely to switch parties."  The hurricane Sandy relief bill was totally mislabeled.  It should have been named "Pork-a-Palooza."  The hurricane relief money was but a fraction of the total designed so the bill would go through congress like a greased pig.

Here's Rand Paul with the truth:

[Ted S]

And the House just passed a much more reasonable hurricane relief bill:

http://online.wsj.com/article/SB10001424127887323374504578221561827167752.html

So the failure of Boehner to allow a vote on the pork-laden bill proposed earlier this week probably saved billions of dollars but delayed the money by 3 days.  Seems like a good trade-off to me.

[clistensprechen]

This is just a message saying that my internet connection has been very iffy today and the last time I tried to type a reply, it went out, and for a long time.

The pork argument is bogus, from what I understand, because the pork was in the Senate version, and it was the House's version that Boehner blocked from being voted on.

wbcoleman, I saw on the other board that you think you're under some kind of restriction on this board.  FYI, the membergroup Hypercritters has the same permissions as Privileged. I set up both of those membergroups.

[Ted S]

wbcoleman, I saw on the other board that you think you're under some kind of restriction on this board.  FYI, the membergroup Hypercritters has the same permissions as Privileged. I set up both of those membergroups.

I saw a post at Don's place where he said that he was under restriction at Hypercrites.com.... Lincoln's place, not here.  Maybe that's what you are thinking about.

[clistensprechen]

Oh. Ha. [Gilda Radner mode ON]



[/mode]

[wbcoleman]

wbcoleman, I saw on the other board that you think you're under some kind of restriction on this board.  FYI, the membergroup Hypercritters has the same permissions as Privileged. I set up both of those membergroups.

Not at all.  I never thought any such thing.

[clistensprechen]

[Ted S]

Sometimes the political cartoons say it all:



From Powerline

[Don Houston]

We still have a cliff, they just slowed down a bit.  From what I have read, they need to go back to the table about the debt ceiling sometime in the near future.  So like the last time, we are going to have to wait to see what happens.  Although we all know it will be an eleventh hour deal again

[clistensprechen]

Congress loves to vote for pork and then yank the rug on the debt ceiling. No wonder cons have stopped talking about "unfunded mandates".

Any congressman whining about the debt ceiling is automatically volunteering for a pay cut, benefits cut.  The entitlements we should start cutting are Congress'.

[Don Houston]

I agree with you Clara that we need to cut Congress Benefits and budgets

[RWE]

Congress loves to vote for pork and then yank the rug on the debt ceiling. No wonder cons have stopped talking about "unfunded mandates".