|Alan Simpson - |
(Photo credit: DonkeyHotey)
"there will be no deal with the Republicans to avert financial disaster on 1 January unless taxes for the top 2 per cent of earners rise". ( Stirring Trouble Internationally ).
|Geithner and Boehner|
It is all play-acting, of course. What is the reality? Video: Geithner busted on "war savings" (hotair.com)
On 1 January, tax breaks and other benefits agreed last year, end Geithner Fight on Fiscal Cliff Invokes Dodd-Frank Resolve - Bloomberg (bloomberg.com). Republicans say this will send America into recession.
Geithner predicts Republicans will yield on taxes | Reuters (reuters.com) So what has Geithner offered?
This means a budget deficit of $1.1 trillion or 7 per cent of Gross Domestic Product. In the European Union budget deficits are not supposed to exceed 3 per cent.
The result is that the national debt is now over $16 trillion. Geithner and Boehner are playing poker. Who will blink first? Republicans want to force Obama's Arrogant Overreach - and the Republican Opportunity (breitbart.com) to cut spending but not to raise taxes for the wealthy.
Republicans are on shaky ground here as even Warren Buffet, the sage of Omaha, says he should pay more tax. Institutional investors are snapping up properties at bargain basement prices. That makes the rent return attractive.
Geithner and Boehner Defend Their Stands on Fiscal Crisis (nytimes.com) Invest in America and not in China or the European Union.
|Timothy Geithner, |
Will America’s famous ‘can do’ philosophy win the day? A post made earlier today over on Stirring Trouble Internationally - A humorous take on news and current affairs December 05, 2012 at 12:08AM America’s Paradox Is That There Is Political Gridlock But Optimism That The Economy Is Growing (stirringtroubleinternationally.com).
Now hopefully you now more about the mentioned things about America, gridlock, optimism, Paradox, political, Republican, John Boehner, Timothy Geithner, United States, United States Secretary of the Treasury, Geithner, Barack Obama, Fox News and some other things that happened on Sunday.