Will a deal get done?

[GunnyGene]

Will a deal that doesn't trash the US economy (and our personal finances )be agreed to before the end of the year? It's not looking good.

Washington (CNN) -– The head of the International Monetary Fund warned that the American economy won’t grow next year without a deal on the fiscal cliff.

Chistine Lagarde, the managing director of the IMF, spoke to CNN’s Candy Crowley on “State of the Union” about the consequences of the president and Congress failing to reach a comprehensive deal on the automatic spending cuts and tax hikes that would occur without an agreement before the end of the year.

“If the U.S. economy was to suffer the downside risk of not reaching a comprehensive deal, then growth would be zero,” she said. “It would be much better to actually have a more comprehensive approach and to deal with all the issues.”

U.S. gross domestic product grew at an annual rate of 2.7 percent in the third quarter of 2012, according to the Department of Commerce. Going over the fiscal cliff could jeopardize economic growth and put the United States back into a recession.

“The real threat that we have at the moment is really here with us,” Lagarde said when asked about the biggest threat outside the United States. “That can be addressed.”

A former finance minister of France who has been working to stabilize the European economy since taking office in July, Lagarde pressed for a comprehensive solution in lieu of a temporary one that Congress may negotiate before the end of the year.

“I don't think [a temporary fix] is enough because there is still that degree of uncertainty that fuels doubt that prevents investors, entrepreneurs, households from making decisions, because they don't know what tomorrow will be,” she said. “They know that a fix has been found for today. But there is still work to be done tomorrow and the day after tomorrow.”

Lagarde predicted the immediate aftermath would cause a “lack of confidence; markets, I think, would react very quickly… the stock markets really taking a hit.”

http://politicalticker.blogs.cnn.com...eal/?hpt=hp_t1

[TotheTop83]

Since the sides are so far apart and we're so polarized, I doubt there'll be a deal. There will be a temporary fix to push the fiscal cliff back another year or so. Then we'll deal with all this crap again, except the cliff will be bigger and our credit rating will be even lower.

Prove me wrong, congress.

[whirley]

Take the cliff. The other half is MANDATORY spending cuts which Obozo doesn't want, so threatens to cut soc. secutiry and medicare. It's all White House BULL socks. The Washington bureauaucracy is so bloated, it could easily be cut back by 200 billion annually, and we'd never hear a burp. All departments get an automatic increase of 8% annually whether they need it or not. Jimmy Carter started a new group to free us from foreign oil. Still no solution in more than 30 years, but an annual budget of over 26 billion. Washington is FAT CITY!

[steve4102]

Originally Posted by whirley

Take the cliff. The other half is MANDATORY spending cuts which Obozo doesn't want, so threatens to cut soc. secutiry and medicare. It's all White House BULL socks. The Washington bureauaucracy is so bloated, it could easily be cut back by 200 billion annually, and we'd never hear a burp. All departments get an automatic increase of 8% annually whether they need it or not. Jimmy Carter started a new group to free us from foreign oil. Still no solution in more than 30 years, but an annual budget of over 26 billion. Washington is FAT CITY!

Agreed, but they won't.

If they do, then the Media and Obama will blame the Republicans and 2014 will be another Democrat landslide victory.

[WHSmithIV]

The very simple answer to the question is No.

[gvw3]

It's a win win for the democrats. No deal they just blame the republicans. If the republicans do make a deal they will sell out the people that have supported them.

[cheesewiz]

Thelma to Louise ......Punch It ! Let's go .......please !

[norahc]

Originally Posted by gvw3

It's a win win for the democrats. No deal they just blame the republicans. If the republicans do make a deal they will sell out the people that have supported them.

A lot of people seem to think that, but I was reading an article last week that made a persuasive point that this could come back and bite the dems in the a$$. If I find a link to it again, I'll post it.

[Twicepop]

Don't make any deals with them, go in and cast an abstention vote or merely vote present and leave. Don't give them anything that they can use against you later. If they are hell-bent on destroying the economy, let them do it without your fingerprints left at the crime scene. With no Republican involvement in this fiasco, even the dumbest of them will eventually have to place the blame on the Democrats for their financial woes.

[markfh]

Originally Posted by cheesewiz

Thelma to Louise ......Punch It ! Let's go .......please !

Ditto... I've got gold, silver and lead. I'm ready.

[XP100]

Republicans need to put an offer on the table NOT changing anything. Then when BHO rejects it no one can blame the Rebublicans. Only one they can blame is Obama.

[carver]

The Demoncat's want the Republican'ts to come up with nothing. Does the American people understand what Obozo, and crew will do to this nation if they have no restraints/budget? My fear is that the Republican'ts want the same thing as the Demoncat's!