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OmahaBlueDog

(10,000 posts)

16. Business Insiced: Warren Buffett Explains Why He Isn't Freaking Out About The Fiscal Cliff

Reply to renie408 (Original post)

Sun Dec 23, 2012, 02:59 PM

Dec 2012

The CBO has issued a report that says the U.S. would go back into a recession if it were to go over the fiscal cliff – over $600 billion in tax and spending provisions set to change on January 1, 2013.

In fact the fiscal cliff has rapidly grown to become the number one concern for investors, climbing past Europe's sovereign debt crisis, and China's slowdown.

But Warren Buffett, the Oracle of Omaha, told CNN that he does not think the U.S. will go into a recession. He also thinks president Obama is right in trying to raise $1.6 trillion in revenue:

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Question: To those who think the Cliff is the best solution... [View all] renie408 Dec 2012 OP

dropping through the cliff samsingh Dec 2012 #1

No one expects the 'cliff' scenario to last railsback Dec 2012 #2

There is no 'fiscal cliff.' The politicians are lying leftstreet Dec 2012 #3

It is not the "best solution" jberryhill Dec 2012 #4

Going over the cliff is a horrible solution ... dawg Dec 2012 #5

Because if we don't stop the hostage crisis cycle, we'll surrender more and more and create TheKentuckian Dec 2012 #6

Ok, so it isn't that the fiscal cliff is so great... renie408 Dec 2012 #7

It's not a cliff and it's not good, it's simply the least bad deal out there so far. Egalitarian Thug Dec 2012 #8

Who said it's the "best" solution MNBrewer Dec 2012 #9

The Cliff Isn't The Real Problem...The Ceiling Is... KharmaTrain Dec 2012 #10

President Obama can ignore the debt ceiling is he chooses to and carry on as he wishes. byeya Dec 2012 #15

Good Luck With That One... KharmaTrain Dec 2012 #19

It's called sacrifice. It used to be an American value. RB TexLa Dec 2012 #11

I have an 81 year old mother, two children and another kid that I have taken in renie408 Dec 2012 #13

I think you mean an American talking point... cthulu2016 Dec 2012 #18

Will it be as bad as the Y2K Bug crises or the Mayan Calendar crisis? Tierra_y_Libertad Dec 2012 #12

According to fiscal cliff calculator I will lose 8% of my yearly income. That would suck. JaneyVee Dec 2012 #14

Business Insiced: Warren Buffett Explains Why He Isn't Freaking Out About The Fiscal Cliff OmahaBlueDog Dec 2012 #16

about the AMT, here's what CTJ says hfojvt Dec 2012 #17

Your concern is noted. backscatter712 Dec 2012 #20

And so is your disdain. renie408 Dec 2012 #22

Here's some important things to remember Major Nikon Dec 2012 #21