Comments on: Fed Chairman Ben Bernanke Warns Congress on ‘Taxmaggedon’: ‘If You All Go on Vacation, It’s Still Going to Happen’

By: Michelle Shu Jas

Michelle Shu Jas — Fri, 08 Jun 2012 12:53:10 +0000

wilson wrote:”You mean like advising that the U.S. auto industry should go into bankruptcy rather than take loans from the government?”
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Loans are paid back…. GM got a taxpayer handout in order to repay the UAW for their support of oBama. Ask the GM bondholders if they got paid back?

By: Peter Fitwell

Peter Fitwell — Fri, 08 Jun 2012 10:44:01 +0000

All the people who don’t pay taxes of course want to Bush tax cuts to expire, and the people who actually do pay taxes want them to be extended, same old same old. Now, if you take 3-5% off of a GDP that only grew 1.9% last quarter, you have what? thats right, kids, a recession all over again. Math is hard for the “gimme free stuff” crowd, but they don’t really care anyway, since they arent really involved with the economy in the first place. They are too busy lobbying to have thier student loan debt paid by someone else, and thier health care payed for by someone else, and thier housing, food, gas, cell phone, etc paid for by someone else.They see government as an endless well of free cash, and know nothing about the fact that every dollar of free cash is either created by a tax on someone else, or created by an instrument of debt by the government that must be paid back with interest. Of course, since they are not actually paying taxes, they will not be involved in the paying it back part.

By: JudieV-c

JudieV-c — Fri, 08 Jun 2012 09:54:35 +0000

It’s up to congress because that’s their job to pass budgets, approve jobs plans and defense cuts or whatever tax increases or cuts are needed. As for RobMe, he won’t be president of the 1% his wealthy investors. Bain investor ads, the debates an his MA record will wipe him out.
We’ll keep the man who created jobs over the guy who wants to give us W 2.0 on steroids.

By: gthog61

gthog61 — Fri, 08 Jun 2012 06:56:51 +0000

Why exactly is it all on Congress to “do something”?

Maybe the Fundraiser in Chief ought to run something budgetary up to the Senate that’ll get more than ZERO votes.

By: Wilson

Wilson — Fri, 08 Jun 2012 05:27:52 +0000

NCPILOT21 | JUNE 7, 2012, 8:24 PM posted: “Fortunately, President Romney will have the intelligence to handle the situation, and will deal with the coming problems like an adult.”

You mean like advising that the U.S. auto industry should go into bankruptcy rather than take loans from the government? Romney went as far as saying if Detroit received the bailout, “its demise will be virtually guaranteed.” He was WRONG.

Since Romney had such wonderful business experience with bankruptcy, why didn’t it occur to him that our Banks were in such terrible shape that none were stepping up to provide financing? Surely Romney would have known that without private financing, bankruptcy would have instead been a liquidation of GM and Chrysler assets. Perfect timing in the depth of the Recession to lose millions of jobs. Great “Intelligence to handle the situation”.

Meanwhile the President of the United States made the right decision. Today GM is the world leader in auto sales and Mitt Romney tries to take credit ! In my view it is disrespectful to call our President a “sniveling little brat”, but now that the shoe fits Mitt Romeny, he can wear it.

By: ncpilot21

ncpilot21 — Fri, 08 Jun 2012 00:24:39 +0000

John Hanson….regarding your post of 6:29pm that ends with, “Good…then Romney will win”: Well, sir, we both have the same sentiments….that Romney winning will be good. But I’m afraid that you didn’t quite think out what you meant to say. The tax cuts will not expire until December 31 of this year…so the mess of the “taxmageddon” will not occur until well after the elections of November. So, unfortunately, it will have no bearing on the election. What WILL happen, though, is that President Romney (gee, that sounds great!)…President Romney will bear the blame for obama’s screw ups. Fortunately, President Romney will have the intelligence to handle the situation, and will deal with the coming problems like an adult. And you can bet that he will NOT whine and cry about the mess he will be inheriting. He will LEAD our nation like a man…not like some snivelling little brat that knows only how to claim credit for the good things and lay blame for the bad.

By: BasicJustice

BasicJustice — Thu, 07 Jun 2012 23:52:48 +0000

“Now Clinton has said that it can wait until January before we need to take action. Why would we wait until it’s already happening?” So that Clinton can be in the news again. They tag team the media cycles. Hillary today, Bill tomorrow. Blather from both of them ad nauseum for the last 30 years.

By: mike

mike — Thu, 07 Jun 2012 23:15:54 +0000

BAIL OUT STUDENTS STUCK IN STUDENT DEBT, it will fix the economy!!!!!

By: Al Gates

Al Gates — Thu, 07 Jun 2012 23:14:04 +0000

Bernanke must have ABC firmly in their pockets. Why does this administration make it so obvious?

By: John Hanson

John Hanson — Thu, 07 Jun 2012 22:29:44 +0000

“Bernanke warned. “If no action were taken and the fiscal cliff were to kick in in its full size, I think it would be very likely that the economy would begin to contract or possibly go even into recession, and that unemployment would begin to rise.”” Good! Then Mitt Romney will win!