Fiscal Cliff, should we not to spend more?
January 3, 2013 7:07pm CST
I am not really fully comprehend the term of "Fiscal Cliff". As some people discuss it, we might go back to the recession period, since the Bush Administration tax cut, and some benefits for the small businesses started to expire at the beginning of 2013, and the government is going to do the spending cut, we might face higher income tax, while small businesses also hesitate to hire people. So, what will it be look like, you can use your imagination. Would high unemployment rate climb up again, while the government can reduce the deficit of the national debt. It might be a dilemma situation. So, I guess more and more people will hesitate to spend again, that is No. 1 scenario I would imagine. What would you say about this "Fiscal Cliff"?
4 Jan 13
Fiscal cliff refers to economic condition where tax rates are increased to generate more revenue for the govt. and at the same time govt stops spending on public projects with the objective of reducing fiscal deficit. However, some were of the opinion that it may again lead to recession due to less job creation and reduced govt spending.
4 Jan 13
it is my first time read about this fiscal cliff. And have this discussion about it. Here in our country really suffering with this kind of situation especially here in our locality. Many people don't have job. Higher taxes being imposed, and low salary to most of the employees. I think the best thing we could do is to be strong on whatever challenges that will come. It is a matter of acceptance and do something that would be positive outcome.
• United States
4 Jan 13
The problem is that no one has the courage to go against the obamderthal and actually pen a budget that will address the countries problems...There has been no new budget since the obamderthal has been the POTUS. This is ridiculous. We elected a bunch of socialists and panty waists. The true unemployment rate has never gone down...Mostly the government has created more unnecessary jobs to increase the employment numbers and they do not count folks who have been unemployed more than a year.