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The CBO Outlines How the Fiscal Cliff Would Send the US Into a Recession

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Now, the Congressional Budget Office is out with a new infographic on their baseline scenario which projects a recession for the U.S. economy in 2013. And an alternative fiscal scenario in which lawmakers extend tax cuts and prevent spending reductions. The infographic also looks at the impact this would have on the federal deficit, economic growth, and the implications this would have on future policy decisions.

Picture1.jpg


Read more: INFOGRAPHIC: Fiscal Tightening Will Force The US Economy Into A Recession - Business Insider
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So now we choose...or more likely our government will choose. Tighten the belts and have a recession or keep putting it off and end up with huge debt held by the public.
 
The teaparty house will block anything and everything...as long as we allow them too....the only thing they pass are tax cuts for the rich and anything that will eventually destroy social security and medicare...
 
lpast said:
The teaparty house will block anything and everything...as long as we allow them too....the only thing they pass are tax cuts for the rich and anything that will eventually destroy social security and medicare...
Click to expand...

I think the thing is, the left side of the chart looks really sexy, saying your cutting almost half a trillion. Then the short term results are horrible. Higher unemployment and a negative GDP (AKA Recession).
 
lpast said:
The teaparty house will block anything and everything...as long as we allow them too....the only thing they pass are tax cuts for the rich and anything that will eventually destroy social security and medicare...
Click to expand...

well that's not true. for example, they voted against Obamacare. :)
 
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