Harry Reid: `IT LOOKS LIKE' U.S. WILL GO OVER FISCAL CLIFF

If we go over the fiscal cliff that will cut a whopping $120 billion a year out of the deficit for the next ten years which is currently $1.2 trillion. This would mean our debt would increase by $10.8 trillion over the next decade instead of $12 trillion.

As for the Simpson Bowles plan, it's set to cut $4 trillion in deficits over the next ten years. Instead of running a deficit of $1.2 trillion a year, our deficits would be reduced to $800 billion a year. This assumes that business don't go under and tax revenue doesn't falter. The plan is also reliant on interest rates staying at near 0%, same as the automatic spending cuts/tax increases from the fiscal cliff.

Also, currently, every 1% increase in interest on the national debt adds $165 billion in expenditures to the current fiscal year. Our national debt is $16.5 trillion currently and $122 trillion in unfunded liabilities.

The dollar won't strengthen, interest rates will soar, inflation will soar (meaning a higher cost of living) and the price of everything will drop in terms of real money (gold and silver). Normally higher interest rates stave off inflation as higher interest rates encourage saving, lower demand and reduce the velocity of currency. But everyone, in due time, including Americans, will lose confidence in the fiat USD and we'll suffer a hyperinflationary depression.

I think I heard somewhere maybe here that the rich people and bankers were going to crash the economy if Obama was reelected, maybe this is how its going to be done!

Why do the voters keep re-electing these guys? They are incapable of doing their jobs.

We were purposely pushed....

REID SAYS `IT LOOKS LIKE' U.S. WILL GO OVER FISCAL CLIFF

[link to twitter.com]

I hope that Pharmaceutical pill popping man milk whore goes over the cliff too!

REID SAYS `IT LOOKS LIKE' U.S. WILL GO OVER FISCAL CLIFF

[link to twitter.com]

REID SAYS `IT LOOKS LIKE' U.S. WILL GO OVER FISCAL CLIFF

[link to twitter.com]

The only "fical cliff" is in the imaginations of those who like to play games with other peoples' lives. Another created "crisis".

It is surprising to me that many people do not see the subterfuge going on in the Democratic Party, they feel if they keep repeating something over and over again people will start to believe it.

Well..it seems to have worked, which is in itself surprising to me since i always felt the American people had more sense, i was sadly mistaken.

One of the main problems with the Senate at the moment is Harry Reid.
This party loving old geezer is taking our country hostage by only passing what he deems necessary and shelving all the rest of the ideas mainly because most of the ideas being submitted were made by Republicans, his arch enemies it seems.

To watch the man when he comes to the floor to speak in the Senate, is just appalling. Most often the first sentence will always have to do with how he just can't understand the Republicans and how they are just ruining our country or something to that degree.
Then he starts the finger pointing and repeating all the old lies about the other side while always managing to leave out how their party has been sitting on their laurels for the past six years or so and do absolutely nothing for our country, they cannot even pass a budget..or do not even care to.

To this man it all comes down to party, he is fighting a war of words and wits aimed directly at the Republican Party not caring a bit about what is actually going on with our country it all comes down to hate for the other party for him. He is literally holding the Senate hostage for his own selfish hatreds..bills are not being passed..business as usual is not being taken care of because of one person and that is Harry Reid himself. If the man wants to do something great for this country he should resign immediately and let someone who can do the job without partisan or personal leanings take the office that he was given.

The political repercussions of his inability to lead are becoming quite apparent. Instead of doing his job and passing or failing bills that our nation needs to keep moving he would rather sit back and blame the other party about everything under the sun ..make it look like everything since the dawn of time has been the Republicans fault and let the media think that the reason we may go over the "Fiscal Cliff" is all the other parties fault, when in reality it is nobodies fault except the majority leaders in the Senate..Mr. Harry Reid..an outdated dinosaur with a bad disposition.

Reid claims that the Republicans will not work with them ..that is a lie..he refuses every suggestion..every offer..every bill passed by them...and then openly mocks them by laughing in their faces..he wants us to go over the cliff...it makes their job easier ..to turn America into a third world country ..

Its all just a big game to them..they are all puppets ..some with more power than others..their goal is the redistribution of all of America's wealth to the rest of the world..at all costs..and their puppet master is George Soros..you don't believe me? Obama was handpicked to be President many many years ago because of his skin color and oratory skills...divide and conquer..the new world order brought to you by the United Nations via George Soros is at your service..

All hail to the Great Destroyer! and God Help us.

Oh that's classic coming from a major douchebag senator that refused to come up with a budget for the past 4 years.

Dirty Harry is so funny in this video. Fiscal illusion.

Let the "cliff" happen. More taxes and less spending is the only sensible thing to do.

More taxes?
You are beyond retarded.

I think I heard somewhere maybe here that the rich people and bankers were going to crash the economy if Obama was reelected, maybe this is how its going to be done!

Gave this a 1 star, really like the OP, but not feeding into the MSM made up fiscal cliff fear factory.

It does still fascinate me how those people have deluded themselves into thinking that everyone is a stupid fool. Good grief.

Our government and the powers that be planned for America to fly off the fiscal cliff.

Let the "cliff" happen. More taxes and less spending is the only sensible thing to do.

:dwight: