How else are we going to cut the defense budget if we don't allow the sequester to take effect? [View all]

[grahamhgreen]

Last edited Wed Dec 26, 2012, 08:39 AM - Edit history (1)

"YVES SMITH: I'm not sure that compromise is worthwhile. If we go over the fiscal cliff or into the fiscal slope, we're going to have the tax increases kick in. If Obama were interested in negotiating for a better deal for the ordinary person, he should actually go into January. But the whole fact that he wants a deal now says that, says that he is as conservative as Bruce says he is.

BILL MOYERS: You mean we should go over?

YVES SMITH: We should go over.

BILL MOYERS: And see what happens?

YVES SMITH: We should go over just because then we've already had tax increases put in. Republicans don't have the leverage of doing a deal without the tax increases already having taken place. You're in a very different negotiating position. Going past January 1 would actually be a very good outcome for ordinary Americans.

BRUCE BARTLETT: I'd say let the fiscal cliff take effect permanently. Now everybody's afraid to do that. They think the economy's too fragile. But if you look at what the Congressional Budget Office has estimated. They say, "Yes, we'd lose some growth for about half a year. But the medium and long term growth would actually be higher, because it would actually do exactly what everybody says they want to do, which is cut a lot out of the long-term deficits. And it would do so fairly by raising revenues a lot and cutting spending." What, how else are we going to cut the defense budget if we don't allow the sequester to take effect? Both parties are pretty much into that. So I say let's just let the whole thing happen. If I was a member of the Senate, I'd filibuster anything to get rid of it." http://billmoyers.com/episode/full-show-fiscal-cliffs-and-fiscal-realities/

Why not let the "Budget Control Act of 2011" be enacted, and fix whatever we don't like as separate bills? There is no cliff.

At the very least, we don't need a deal with cuts to SS in it.... please call the White House and say, "No cuts to Social Security, No chained CPI, cut the military instead; Social Security does not contribute one nickel to the deficit."

Call the White House 202-456-1111 (opens WED 12/26), and your rep [phone] (opens TH 12/27)!