Bluff called -- no deal
The Supercommittee seemed not to reach any deal on debt. The question now is, will the automatic austerity measures go into full force, or will the Government find some way to defang them?
posted by winterspeak at
2:38 PM
4 Comments:
What automatic austerity measures? Do you mean the smaller increases in the deficit every year.
Not exactly a cut in spending but simply slowing the amount the government borrows a few years from now. and no, by that time, something else will be the big concern so don't expect the party in Washington to end soon.
bosscauser: yes, I was referring to the automatic deficit cutting measures that are meant to go into effect if the super-committee did not reach a deal.
i don't think they will happen, but we'll see.
President Obama has stated that he will veto any attempts to prevent automatic cuts from taking effect. In other words, either there will be an agreed to set of cuts OR these automatic cuts.
I hope they will keep Medicare and Social Security in decent shape, rationalize Unemployment payments; while get off trying to shore up Corporate Toplines and bottomlines with needless buying and tax loopholes - these Corporate support measures reduce the need for good workers to bring in the profits, then hiring becomes but an act of charity producing H-C moments ("You want a j~ob, right!?")
read: hiring, salary determination, and promotions get reduced to acts of charity, producing....
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