The Fiscal cliff

[BraveUlysses]

It's mostly due to defense spending being cut.

http://www.economist.com/blogs/freee...icas-economy-1

First, it is important to note that this is the government's advance report, which will subsequently be revised several times. Growth in the third quarter was initially reported at just 2.0% before being revised up more than a percentage point. Second, the bad number is driven by a few one-off peculiarities in the data. Federal defence spending shrank at a striking 22% annual pace in the fourth quarter, knocking 1.28 percentage points off of growth. That was mostly (though not entirely) due to typical shifting of spending into the third quarter ahead of the end of the fiscal year in September. (Correspondingly, the 0.64 percentage-point defence contribution to growth in the third quarter was somewhat overstated.) A big change in private inventories also knocked 1.27 percentage points off of growth. Real final sales grew at more than a 1% annual pace for the quarter, suggesting that underlying demand continues to grow, albeit weakly.

[nando]

the economy shrank .1% last quarter. Gee, I wonder why?

Fuck you congress.

[The Volta]

Here is a great presentation about unsustainability of the the current system that is set in place. There is also sources in the youtube link if you want to do some of your own research of where the numbers come from.

[BraveUlysses]

In all seriousness, how many people do you think are on EBT and NOT using drugs....honestly.

This says more about you and your assumptions about others than anything else.

[rwh11385]

This. Basically it was a cut on entitlement taxes to stimulate the economy.

So basically, ditch the entitlements, lower taxes. People don't realize that they have to pay for the government to take care of them.

Ummmmm. Social security is an "insurance program", not a welfare "hand-out" entitlement. The people who pull from it have paid into it. Why you guys have compared then... not really sure.

http://www.ssa.gov/pubs/10070.html

Social Security benefits are based on your lifetime earnings.

http://www.heritage.org/research/reports/2005/03/how-todays-social-security-works

Qualifying for Social Security.
Workers do not automatically qualify for Social Security retirement benefits. Instead, they must work and pay a minimum level of Social Security taxes for at least 40 quarters during their working lives. These 40 quarters do not have to be consecutive. Currently, workers earn a credit for each three-month period in which they earn at least $900. Once they have worked and paid Social Security taxes for the required 40 quarters, they are fully qualified to receive Social Security retirement benefits.

Part of the trouble is when a giant wave of people come and try to retire (baby boomers) and the program is not sustainable because of longer life expectancy. If it weren't for this wave, the ponzi scheme would be more stable.

If I was retired and paid into SS for my entire life, and someone took that away I'd be pissed. Norquist be damned, politicians are way more terrified than pissing off the AARP. Not that I'm counting on it, but they may be. Too bad the recession killed the idea of privatizing SS.

The guvment could have future workers take care of themselves, but that would also cut off the source of income for current retirees.

[slammin.e28]

Fuck the ACLU. You are applying for GOVERNMENT AID. They have a right to know who that money is going to.

Everything the government does is to make it harder for the normal person to live, but when it comes to helping vagrants, they make it so so easy.

[InuFaye]

When they started this in FLorida, the answer, not many. Not many at all in fact.

It looks like it was held up in court by the ACLU as an unreasonable search and seizure, but it sounded like they only got 60 people out of 7000.

[z31maniac]

Mandatory drug tests every 6 months to renew would cut a lot of the shit. Seriously, I have to pass one to pay into they're broken system.

Wouldn't stop fuck nuts from using the money he does have on stupid shit.

In all seriousness, how many people do you think are on EBT and NOT using drugs....honestly.

When they started this in FLorida, the answer, not many. Not many at all in fact.

[slammin.e28]

Wouldn't stop fuck nuts from using the money he does have on stupid shit.

In all seriousness, how many people do you think are on EBT and NOT using drugs....honestly.

[InuFaye]

Mandatory drug tests every 6 months to renew would cut a lot of the shit.

Wouldn't stop fuck nuts from using the money he does have on stupid shit.

[slammin.e28]

We should just cut EBT programs. I hardly see anyone around here not abusing the hell out of the system.

Mandatory drug tests every 6 months to renew would cut a lot of the shit. Seriously, I have to pass one to pay into they're broken system.

[InuFaye]

Yup. People get candy and shit with EBT then whip out a fifty to get there Power ball and another $80 for 4 cartons of Pall Malls.

There should be a way to report these people.

We should just cut EBT programs. I hardly see anyone around here not abusing the hell out of the system.

[slammin.e28]

Last night I was in the grocery store picking up some dog food on the way home from work.
Older dude(50 or so) used his ebt card to buy FUCKING CIGS.

Why the hell should I subsidize his death?

Yup. People get candy and shit with EBT then whip out a fifty to get there Power ball and another $80 for 4 cartons of Pall Malls.

There should be a way to report these people.

[InuFaye]

Last night I was in the grocery store picking up some dog food on the way home from work.
Older dude(50 or so) used his ebt card to buy FUCKING CIGS.

Why the hell should I subsidize his death?

[slammin.e28]

I mean its not technically a tax raise, its a holiday that expired.

This. Basically it was a cut on entitlement taxes to stimulate the economy.

So basically, ditch the entitlements, lower taxes. People don't realize that they have to pay for the government to take care of them.