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Monday, November 26, 2012

Fiscal Cliff?

Read the article. What is the "fiscal cliff?" What is being done about it? Find another article that relates to the fiscal cliff. No repeats!

Due Friday November 30, 2012 by 11:59:59pm

55 comments:

  1. Julio C. Lores CruzNovember 26, 2012 at 6:25 PM

    The fiscal cliff is the term used to describe the spending cuts and tax increases that will result next year should Congress not reach an accord with President Obama. According to public view neither President Obama nor the Republican party are trying to "truly"compramise on the deal. Though they agree on spending cuts ,neither side is in agreement on how the tax code should be changed.

    Another article is:
    http://money.cnn.com/2012/11/26/news/economy/fiscal-cliff-holiday-sales/index.html?source=cnn_bin

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    1. The "fiscal cliff" is a term that refers to the reduction of the nation's deficit by raising taxes and reducing spending. Nothing is getting done however, because neither parties is willing to set aside their own beliefs to reach a compromise.

      http://www.chicagotribune.com/news/sns-rt-us-usa-fiscal-taxesbre8ap10z-20121126,0,2757126.story

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    2. I agree with Linh because it is pretty apparent that nothing is being done as both parties are not wanting to give up any of their beliefs.

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    3. I agree with Linh because of the fact that nothing is being done because neither sides are willing to come up with a compromise

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  3. The "fiscal cliff" is the increase in taxes and a decrease in spending, due to Obama's reelection, that is set to take place next year. Nothing has been done yet, but the public speculates that the two parties will most likely refuse to compromise as opposed to behaving like the leaders that they are.

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    1. http://m.washingtonpost.com/business/economy/obama-begins-building-public-case-for-extending-middle-class-tax-cuts/2012/11/26/d96dbe36-378f-11e2-8a97-363b0f9a0ab3_story.html

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  4. The "fiscal cliff" refers to the US deficit that has now climbed so high people believe that it is going to put us back down into a depression. The President and congress have been talking and trying to negotiate a solution to it but neither party wants to settle for less than what they think is right. Talks about budget cuts and raised taxes on the wealthy are two of the many issues they are trying to negotiate out. But if we are to go over this "cliff" some people believe it is going to drastically effect our economy.

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  5. The fiscal cliff is a program that will be used to reduce the federal deficit. At this moment both the Republican and Democrat parties are looking to see what will best raise the government’s revenues. Democrats argue on raising taxes on the wealthiest Americans, while Republicans call for the “closing of loopholes and reform in the tax code.” Both political parties seem to agree on spending cuts. The majority of Americans seem to fall in between with over two thirds saying that the “fiscal cliff” should include “a mix of spending cuts and tax increases.”

    http://online.wsj.com/article/SB10001424127887324439804578107280483982220.html

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    1. I agree with Sandra in the fact that both parties have the same agreement on spending cuts.

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  6. A program that will reduce the federal deficit is also know as the fiscal cliff.Its not getting taken care of because they can not agree on a plan ,witch my cause taxes to go up and another crisis but other people say that if the fall out of the fiscal cliff thier personal finance will be affected,mosst people want the aggrement to involve on a mixture of tax increase and spending cuts

    http://www.cbsnews.com/8301-250_162-57554264/the-fiscal-cliff-isnt-a-cliff-at-all/

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  7. The fiscal cliff is the problem that faces our country with finding a program to reduce the deficit. Obama proposed his plan to congress now the congressmen cannot decide on a plan acceptable by both parties. If no agreement is met than taxes raise for all Americans, not just the wealthy as Obama proposes , and budgets get cut in all of our federal programs somewhat like what the republicans want.

    http://www.theadvertiser.com/article/20121129/OPINION/211290303/Fear-not-fiscal-cliff-looms-ahead-2013?odyssey=mod%7Cnewswell%7Ctext%7CFRONTPAGE%7Cp

    http://www.colbertnation.com/the-colbert-report-videos/421556/november-27-2012/the-fiscal-cliff-compromise

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    1. I agree with adrian about the raise of taxes for all Americans not just the wealthy.

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  8. A "Fiscal Cliff" is a combination of expiring tax cuts and across the board government spending cuts scheduled to become effective December 31, 2012. The idea behind the fiscal cliff is to significantly reduce the federal budget deficit. President Obama and Congress agreed to this program last year but they haven't reach an agreement. Yet 44% of the public say that this "tax increase and spending cuts" would cause a major conundrum and whereas to 56% argued that "taxes on wealthy people should be kept so the government can use their money for programs to help lower-income people." Both parties have indicated a "willingness to implement spending cuts," yet no decision has been made up to now.

    http://taxfoundation.org/article/fiscal-cliff-primer

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  9. The fiscal cliff is being used to reduce the ferderal deficit. The Republicans and Democratics have different views on this program. Democrats want to raise taxes for the wealthiest people but the democrats want to close loopholes and reform the tax codes.

    http://www.cbsnews.com/8301-250_162-57553946/fiscal-cliff-looms-as-congress-and-lobbyists-return-to-work/

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  10. Fiscal cliff is when the Bush era tax cuts will come to and end and automatic tax-raises and spending cuts come into effect. This is scheduled to be December 31st and will affect every person in the United States. All members of congress and the president are trying to reach an agreement, but Republicans do not agree with president Obama's proposition to raise taxes on the wealthy. However both sides agree that there must be spending cuts in the final compromise that is reached to avoid the fiscal cliff. Both parties do not think the other is doing enough to compromise, however. http://www.usatoday.com/story/ news/politics/ 2012/11/29/fiscal-cliff-thursday/1734963/

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    1. I agree with Jose (APPLE aka Peaches) that both parties are agreeing in spending cuts in the final compromise, yet both parties are doing it differently.

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  11. The "fiscal cliff" is a program that last year Congress and President Obama agreed on to reduce the federal deficit. Both parties are willing to tom implement spending cuts, although how much is not yet come to an answer. Obama want to raise taxes on the wealthy, and the Republicans want to stick point.

    http://live.wsj.com/video/everything-you-need-to-know-about-the-fiscal-cliff/EE994540-68DA-4374-81FE-287A76422E5C.html#!EE994540-68DA-4374-81FE-287A76422E5C

    http://www.cfr.org/economics/fiscal-cliff/p28757

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  12. The Fiscal Cliff is the plan to increase taxes and have cuts to budgets. There is an effort of some sort to bring this plan alive, but it seems like the parties are acting like "spoiled children" and refuse to compromise. However, we need SOME type of compromise to make progress in reducing the Nation's deficit.

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    1. I agree with Fernando in how he calls the parties "Spoiled Children" in how they wont compromise on some agreement!

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    2. I agree that some action be taken before we drive ourselves into the grond. But I must disagree the legislators aren't acting like children but like normal politicians. YOU'RE A CHILD!

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    3. http://www.csmonitor.com/USA/DC-Decoder/2012/1130/Why-Obama-is-pushing-for-stimulus-in-fiscal-cliff-deal-video

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  13. What is said to be called the "fiscal cliff" is a program that has been in the government for the past year. The cause of the "fiscal cliff" is the increasing of taxes. Members of congress and the president are trying to come to an agreement but as always some one doesn't agree. Republicans don't agree with Obams's proposition to raise taxes on the upper classs. The fiscal clift will beggin in 2013 if they don't come to an agreement.

    http://moneymorning.com/tag/fiscal-cliff-2013/

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  14. The fiscal cliff is the program Obama agreed to that will increase taxes and cut on government spending. It is an on going issue at the moment because, if a decision is not made soon between the two parties, it will take effect by next year decided by congress. Either one of the parties will have to set aside their differences and values in order to come to an agreement that will benefit the citizens



    http://www.cnbc.com/id/50016612

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  15. The fiscal cliff is a program that started last year, Congress and President Barack Obama agreed to reduce the federal deficit that some people refer to as the "fiscal cliff." If Congress and the President don't reach an agreement in a few weeks, tax rates will automatically rise next year for nearly all Americans and major spending cuts will automatically begin to kick in for most government spending programs.

    http://www.huffingtonpost.com/2012/11/29/fiscal-cliff-2012_n_2214264.html

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  16. The fiscal is the term the government uses to sum up the tax raises and cut on government spending that should be happening in the next few months. The problem would be how President Barack doesn't feel like compromising with congress, which is a majority of republicans. This would prolong the activation of the actual program.

    http://www.policymic.com/articles/19840/fiscal-cliff-2013-here-is-the-right-way-to-reform-the-defense-budget/299122

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  17. The fiscal cliff is the term people use to describe the government spending and tax cut policies that should happen in a few mouths. to solve the problem Obama and congress are going to have to come up with a compromise that would make him and congress happy.

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  18. The fiscal cliff is the term the normal people use to explain the govt. Spending sum and tax raise cut policies that will happen in a few months. To solve this situation president Obama and congress will have to come up with an agreement that wil be considered good for both sides.

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  19. "Fiscal cliff" is a popular term used when President Barack Obama agreed to a program to reduce the federal deficit.This is a huge concern between both political parties.They are
    trying to lower the deficit by compromising in a plan that will lower tax rates.If they are unable to resolve this problem the high tax rates will most likely cause another crisis.

    http://www.csmonitor.com/USA/DC-Decoder/Decoder-Wire/2012/1130/Fiscal-cliff-proposal-Is-Obama-trying-to-peeve-GOP

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  20. "Fiscal cliff" is used by people to refer a program that is supposed to reduce the federal deficit. At the moment nothing is being done because the President and the Republican party cant compromise. The only think that they have in common is that both party agree a willingness to implement spending cut, but now how much or where they should do it.

    http://firstread.nbcnews.com/_news/2012/11/30/15576469-house-gop-stalemate-over-fiscal-cliff-not-interested-in-rope-a-dope?lite

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    1. I agree with fernando because both parties are not on the same page meaning they do not agree on anything as of right now so nothing is being done for this situation.

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  21. A "fiscal cliff" is a term used to describe the process of increasing taxes and at the same time the cutting of expenses. If Congress and President Obama don't come to an agreement on what will be done concerning the debt we are in, then the fiscal cliff will happen and as the article said, many americans predict that something bad will happen the budgets of all of people.

    http://finance.yahoo.com/blogs/just-explain-it/just-explain-why-fiscal-cliff-may-trigger-recession-191808165.html

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    1. I agree with Cristian because if congress doesnt come up with an agreement budgets of people will be in trouble.

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  22. The term "fiscal cliff" is a program that President Obama created to reduce the federal deficit.But it seems that both political parties do not come into a compromise, because the Democrats want to increae the tax rate on the wealthiest Americans. While the Republicans call for the closing of loopholes and reform in the tax code. But their is hope because both Partiea have the agree to implement spending cuts.
    Articles:
    http://www.cnn.com/2012/11/29/politics/fiscal-cliff/index.html

    http://www.weeklystandard.com/articles/fiscal-cliff-diving_663544.html

    http://www.thedailybeast.com/articles/2012/11/27/fiscal-cliff-day-21-you-call-that-a-compromise.html

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    1. I agree with Maria that there is still some type of hope that both parties will compromise because the implement spending cuts.

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  23. The so called "fiscal cliff" was created by President Obama with hope of reducing the federal deficit. It is said if both Parties do not come to an agreement Republicans will be the most likely to be blamed for. It is highly important that both Parties come to an agreement in the next couple of weeks, if not tax rates will automatically rise as soon as next year for nearly all Americans.

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    1. I agree with Oscar. They need to set aside differences and work to make progress.

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  24. The "fiscla cliff" was developed to help reduce the federal deficit, but even with helping th country both the Demoratcs and Republicans do not come to an agreement. Both parties want something different, the Democrats want to tax the wealthy and the republicans want to cover loopholes, but they do not come to a compromise.


    http://moneymorning.com/tag/fiscal-cliff-2013/

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  25. The fiscal Cliff basically is a program agreed by Obama and Congress that will reduce the federal deficit. Whats being done about it is that they should raise taxes on the wealthy people to pay off the revenues. Both parties want something different, but they wont come up with an agreement.

    http://www.cbsnews.com/8301-505263_162-57556385/as-clock-ticks-little-progress-on-fiscal-cliff-deal/

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    1. I agree with Miguel (Miguel aka Miguel) in that the parties don't seem to be able to come up with an agreement

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    2. I agree with Miguel that both parties want something but they can't reach an agreement.

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    3. Miguel is true by stating an agreement can't be accomplished by both parties.

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  26. Last year, Barack Obama agreed to a program to reduce the federal deficit that some people refer to as the "fiscal cliff." Right now both parties are trying to compromise but democrats want to raise tax rates on wealthy Americans, while republicans want to close the reform on tax codes. If Washington officials act like "spoiled children," not "responsible adults," in the upcoming negotiations, tax rates will rise causing another crisis.

    http://www.disabled-world.com/editorials/fiscal-cliff.php

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  27. The "fiscal cliff" is raising taxes and reducing spending to redue the nation's deficit. However, nothing is happening because neither parties is create a compromise. If neither party decides to make a decision then "tax rates will automatically rise next year for nearly all Americans and major spending cuts will automatically begin to kick in for most government spending programs, including military programs", as it says in the article.

    http://www.reuters.com/article/2012/11/30/us-usa-fiscal-obama-idUSBRE8AT0LH20121130

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  28. "Fiscal Cliff" is the popular shorthand term to describe whats going to happend to the U.S goverment by the end of 2012,it has to do with Budget Control.They are trying to reduce the deficit.Congress and obama need to come up with an agreement before its to late.

    http://bonds.about.com/od/Issues-in-the-News/a/What-Is-The-Fiscal-Cliff.htm

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  29. "Fiscal cliff" is used to describe the combination of tax raises and spending cuts. This is said to happen by the end of 2012 & was created by Obama to reduce the federal deficit. Both parties, Democrats and Republicans want something different but don't come to an agreement. The Republicans want to cover loopholes but the Democrats want to tax the wealthy people. If they don't come to an agreement soon, taxes will be raised for nearly all Americans.

    http://www.examiner.com/article/what-is-fiscal-cliff-and-why-should-we-care

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  30. Message starred Friday, November 30, 2012 10:47 PM The fiscal cliff is a term used to describe the conundrum that the U.S government will face at the end of 2012, if both parties can't come up with a plan that will fix the federal deficit. Right now both parties are acting like "spoiled children" because they can't agree on a compromise that will reform the tax codes/rates and the spending cuts.

    http://www.cbsnews.com/8301-34222_162-57556316-10391739/gop-white-house-fiscal-cliff-idea-a-joke/


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  31. The term "fiscal cliff" refers to the national debt and the cutting on spending and the raising of taxes on the public in order to reduce this debt. Both parties are at a gridlock with the Democrats wanting to "increase taxes on wealthiest Americans" while Republicans would rather just close "loopholes" in the idea. Nothing is being done to actually fix the situation, and though plans are being introduced and discussed neither party is willing to compromise their beliefs to come to a consensus on one idea that can potentially be the answer everyone is looking for. Many Americans are "pessimistic" about Congress actually cooperating with Obama like "responsible adults," but more expecting them to act like "spoiled children".

    http://mobile.businessweek.com/news/2012-11-30/at-and-t-ceo-says-fixing-fiscal-cliff-will-require-tax-hikes

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  32. The "fiscal cliff" is a program that will help with reducing the federal deficit. They plan on achieving that by considering to raise taxes and deal with spending cuts. Both parties have different beliefs and have not yet came to an agreement. Democrats believe that taxes should only be raised to the wealthiest Americans , but the republicans want to close the reform on tax codes. Neither parties come to an agreement and like that this situation will not have any progress.

    http://useconomy.about.com/b/2012/11/14/and-now-avoiding-the-fiscal-cliff.htm

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  33. Fiscal Cliff is the term used to refer to the tax increases, spending cuts and budget deficits that are scheduled to occur in 2013. Currently, much hasn't been done due to the different point of views from both the Democratic and Republican party. They need to fix their differences and reach an agreement before our crisis becomes worst.

    http://www.reuters.com/article/2012/11/30/us-usa-fiscal-obama-idUSBRE8AT0LH20121130

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  34. Fiscal Cliff is a term used to refer a reduce in deficit. The public also thinks " any agreement should include a mix of spending cuts and tax increases, with just under one in three saying a deal should only include spending cuts." SO far nothing has been done because the president and congress can't reach a compromise."Both parties have indicated a willingness to implement spending cuts, although a decision over how much and where has yet to be made."



    http://www.bbc.co.uk/news/business-20237056

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  35. Fiscal Cliff is a term that refers to our tax increases and our nations spending, having to do with our nations debt. We are to face this barrier "Fiscal Cliff" by the end of 2012. Only if our parties do not come to an agreement then we will all have to suffer a large set back in ones income due to large amounts of tax deductions. In this case we really need to have both our parties work together and come to an agreement or taxes will rise.


    http://www.denverpost.com/news/ci_22093933/fiscal-cliff-how-colorado-education-will-be-affected

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  36. There are two different point of views for the Fiscal Cliff. Both the democratic & the republicans think differently but the term that describes Fiscal Cliff is basically refering to our Nation's spending , dept & tax increase. Since both sides don't put aside their differences & come to an agreement, nothing is getting done.

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  37. To late to post, I figured :/

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  38. Fiscal Cliff is a U.S government term that represents a detailed description to what the government will face coming the year old 2013. This program was invented by the President in order to reduce federal deficit. A couple of actions that are recently happening/being done about it was that just yesterday, a debate was mentioned about this issue with Utah representative, achieving the house to pass this deal but has to be waited until December 31st of 2012.
    Look at http://www.thedailybeast.com/features/2012/11/fiscal-cliff.html for more detail and the countdown for The Fiscal cliff to happen. An interesting article I found was CNN; http://www.cnn.com/2012/11/30/health/fiscal-cliff-physical-emotional/index.html demonstrating how this could affect your health.

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