Harry Reid: It's too late. We are going over the fiscal cliff - Polidicks

[img]http://imgkk.com/i/19x6.jpg[/img] [url]http://www.bbc.co.uk/news/world-us-canada-20853624[/url] [quote=BBC News][B]The US appears to be heading over the "fiscal cliff", with prospects dim for a deal to avoid tax rises and spending cuts, the US Senate leader says.[/B] Speaking on the Senate floor, Democrat Harry Reid said there did not seem to be enough time to craft a deal before Monday night's end-of-year deadline. Senators and President Barack Obama have returned to Washington, while the House of Representatives is in recess. Analysts say heading over the "cliff" could tip the US into recession. Bickering over the cliff has divided Washington in recent weeks, with President Obama and House Speaker John Boehner unable to reach a deal before Christmas. The president wants to ensure that taxes do not rise for Americans earning under $400,000 (£250,000), and insists on raising new tax revenue in any deal. [B]'Dictatorship of the speaker'[/B] But many Republicans oppose new taxes, and an alternative plan proposed by Mr Boehner - which would have seen taxes rise only on those earning over $1m - failed in the House late last week. Republicans left Washington for Christmas and said responsibility for avoiding the cliff rested with the Democratic-led Senate. But in the Senate chamber on Thursday Mr Reid said the requirement to get at least 60 of 100 votes to move to a vote on any legislation almost certainly doomed any new plan unless Republicans gave it strong backing. "It looks like that's where we're headed," Mr Reid said of the fiscal cliff. The Senate leader said the House of Representatives was "being operated with a dictatorship of the speaker", accusing Mr Boehner of holding up a vote on a Senate-passed bill to avoid the fiscal cliff. "John Boehner seems to care more about keeping his speakership than about keeping the nation on sound financial footing," Mr Reid said. Mr Boehner faces an internal re-election contest among House Republicans on 3 January. The term fiscal cliff refers to the combination of almost $600bn (£370bn) of tax rises and spending cuts due to come into force on 1 January if Congress does not pass new legislation. Sweeping tax cuts passed during the presidency of George W Bush will expire, affecting people of all income levels. [B]'Extraordinary accounting'[/B] In addition, spending cuts mandated by a law passed to break a previous fiscal impasse in Congress will come into force. The cuts are expected to affect federal government departments and the defence sector, as well as hitting unemployment insurance and veterans' support. On Wednesday, Treasury Secretary Timothy Geithner warned Congress the Treasury would have to enact a series of extraordinary accounting measures to free up about $200bn from the government's official borrowing figure. Those measures would stop the government from hitting its $16.4tn "debt ceiling" - the legal limit set by Congress on how much the US government can borrow - for about another two months beyond 31 December. But Mr Geithner warned that without them, the government would run out of cash on Monday and "the United States would otherwise default on its legal obligations".[/quote]

American politics are absolutely stupid, the whole world is going to pay for this and congress is not caring at all.

[quote]"John Boehner seems to care more about keeping his speakership than about keeping the nation on sound financial footing,"[/quote] no shit

We're going over the cliff? weeeeeeee

They don't come to a deal, they shouldn't be paid. It's only fair if they're fucking the rest of this country over, but not really by much.

Don't forget a parachute and mountain gear. It's a long way down and an even longer way up.

the rest of my life will be a fun ride :I

[QUOTE=Lone_Star94;38991918]Don't forget a parachute and mountain gear. It's a long way down and an even longer way up.[/QUOTE] Those require money.

It seems to me that a lot of American politicians just don't take money very seriously. People complain about the Eurozone crisis, but at least there is a unified attempt to fix the problem.

[QUOTE=Wiggles;38991971]It seems to me that a lot of American politicians just don't take money very seriously. People complain about the Eurozone crisis, but at least there is a unified attempt to fix the problem.[/QUOTE] As UK Business Secretary [url=http://www.guardian.co.uk/politics/2011/jul/24/vince-cable-us-debt-rightwing-nutters]Vince Cable said[/url] when the last Greek bailout was agreed, "the irony of the situation is that the biggest threat to the world financial system comes from a few rightwing nutters in the American Congress rather than the eurozone."

[QUOTE=Wiggles;38991971]It seems to me that a lot of American politicians just don't take money very seriously. People complain about the Eurozone crisis, but at least there is a unified attempt to fix the problem.[/QUOTE] Nah, they take money seriously. [sp]their own money[/sp]

[QUOTE=purvisdavid1;38991934]Those require money.[/QUOTE] John Boehner wont be needing it anyway. His inflated ego doubles as a blimp. Probably the same for the rest of them, though to a lesser extend. Also isn't the GOP getting increasingly unpopular among the average American, due to their stubborn idea of not compromising??

Is the GOP trying to destroy their own party?

We're getting boehned by Boehner. I fucking hate my government.

rip in peaces america

[QUOTE=Van-man;38991993]John Boehner wont be needing it anyway. His inflated ego doubles as a blimp. Probably the same for the rest of them, though to a lesser extend. Also isn't the GOP getting increasingly unpopular among the average American, due to their stubborn idea of not compromising??[/QUOTE] A while back some republicans said there are some tea party republicans coming in with a "stand their ground" approach. There were actually some Republicans who wanted to compromise but eventually the hold the ground idiots started to outnumber them.

[QUOTE=BrainDeath;38992095]rip in peaces america[/QUOTE] About 50 pieces, give or take

I like how we've known this was going to happen and nothing has been done at all. [sp]I don't like it I lied[/sp]

I wonder how this is going to affect Canada... Can't be good, considering how closely tied to the American economy we are.

At times like this I wish I were a pirate sailing the seven seas Why wasn't I born in Somalia

god bless america greatest place on earth

[QUOTE=Wiggles;38991971]It seems to me that a lot of American politicians just don't take money very seriously. People complain about the Eurozone crisis, but at least there is a unified attempt to fix the problem.[/QUOTE] Lol what hold on a second while half of the EU was rioting because of austerity, and multiple nationalist and separatist parties became popular, US applied the largest stimulus ever, and climbed out of a hole. Our entire car industry was saved.

US politicians.

GG America. Way to fuck everything up, ever.

[QUOTE=POLOPOZOZO;38992402]Lol what hold on a second while half of the EU was rioting because of austerity, and multiple nationalist and separatist parties became popular[/QUOTE] Half the EU? Try the handful of countries where the economy was failing, all of which received billions of Euros from the EU in order to help stabilise them. [QUOTE=POLOPOZOZO;38992402]US applied the largest stimulus ever, and climbed out of a hole. Our entire car industry was saved.[/QUOTE] And yet, here we are. The US economy is once again on the cliff edge and everyone is waiting until the 11th to pull it back.

"tax rises and spending cuts" Why the hell didn't we just do this in the first place.

well, if this does happen, people are going to put the blame specifically on the GOP, and hopefully they'll learn

This country spends more than we can make..

Why the fuck is the House in recess right now, isn't that political suicide?

[QUOTE=SFC003;38992694]This country spends more than we can make..[/QUOTE] Uhm. No. We could make a lot more ,we just choose not too since for some reason, we view the wealthy as gods.