OMG! It's the Fiscal Cliff!

[SamIam]

Originally Posted by richlevy

Well, if they hadn't screwed up the primaries we'd have been enjoying some of Newt's $2.50/gal gas by now!

Or at the very least, I'd have one of Mitt's 12 million new jobs.

Over the weekend I heard House Speaker John Boehner mention in passing that the tax cuts for the wealthy were important to help create a smaller government. At last, a politician speaking the truth if only accidently in passing. Dry up the funding in order to starve the beast.

Republicans have always wanted "small government." That means not only fewer taxes, but among other things, less government oversight in the form of regulatory agencies. I'm no big fan of government snooping, but on the other hand, lack of any sort of real outside regulation helped allow the boys on Wall Street to play fast and lose with the mortgage lending industry and other financial instruments for their own gain and to the nation's continuing sorrow.

It's like a teenager wanting his parents to trust him to be home alone next weekend when the last time they left him in the house by himself for a few days, he threw the biggest party evah for him and his friends. Kids were passed out on the front lawn, the furniture was destroyed, the police were called, and a good time was had by all. Except Mom and Dad who had to clean up the mess and bail Junior out of jail. Like Junior's Mom and Dad, I view Republican demands for "less government" with a jaundiced eye.

[xoxoxoBruce]

Originally Posted by SamIam

Republicans have always wanted "small government." That means not only fewer taxes, but among other things, less government oversight in the form of regulatory agencies.

Not always, from Life magazine, June 21, 1954, The Republicans were gleefully screwing the free market with farm supports that were doing more harm than good.

[tw]

Is a fiscal cliff destructive? If yes, then someone is saying why with specific numbers. Nobody is. Why so much fear? Businessmen do not like unknowns. Bottom line: nobody knows what the fiscal cliff will do. Nobody knows quite how to plan for it. That lack of prediction and planning - not the actual cliff - has created fear. The cliff itself is not that destructive. The need to adapt to change scares the shit out of finance people.

Some businesses must adapt accordingly. Others will see no change. But due to spread sheet models that cannot define change or innonvation, then many businessmen are hyping an end of the world. Ironically setting up Republicans to become scapegoats just like Newt Gringrich was when he foolishly tried to shutdown government.

The fiscal cliff means many companies living fat off government must become more productive, search for new markets, or be properly punished by bankruptcy (what destroys bad management). Since many business managers have no idea how the work gets done, then they will be exposed as incompetent by a need to change. That incompetence - not the actual cliff - is probably the source of much fear.