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The Fiscal Cliff Is An Artificial Crisis

US Politics & Gov't  (tags: austerity, fiscal cliff, obama, GOP, corporate-government, oligarchy, elites, class-warfare, working-class, control, people power, people vs corporations, people vs government )

- 921 days ago -
"Michael Hudson: The fiscal cliff was manufactured to shift more of the burden of the crisis onto ordinary people "

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jan b. (5)
Wednesday December 19, 2012, 2:40 pm
LET THE REPUBLICANS BACK DOWN FOR A CHANGE !! I'm so tired of this party who caters to the wealthy and cheats the rest of us. People who aren't rich that support this fraud make the rest of us suffer for it. as well due to their ignorance.

Roseann d. (178)
Wednesday December 19, 2012, 4:03 pm
I agree Janice. Then there is Nancy Pelosi going along with anything the Prez says. It just serves to reinforce the GOP a-holes long enough and Dems will cave eventually! DUH! I wonder if they are just as lousy with child-rearing...the GOP are essentially the same thing, petulant children and little bullies.

Carole Sarcinello (338)
Wednesday December 19, 2012, 6:46 pm
Galbraith holds the Lloyd M. Bentsen Jr. Chair in Government/Business Relations at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin. His latest book is "Inequality and Instability: A Study of the World Economy Just Before the Great Crisis," (Oxford University Press, 2012.)
Galbraith recently wrote the piece "Six Reasons the Fiscal Cliff is a Scam," which states: "Stripped to essentials, the fiscal cliff is a device constructed to force a rollback of Social Security, Medicare and Medicaid, as the price of avoiding tax increases and disruptive cuts in federal civilian programs and in the military. ... Is there a looming crisis of Social Security, Medicare and Medicaid, such that these programs must be reformed? No, there is not. Social insurance programs are not businesses. They are not required to make a profit; they need not be funded from any particular stream of tax revenues over any particular time horizon . . .
"Would the military sequestration programmed to start in January be a disaster?  No, it would not be. Military spending is set in any event to decline – and it should decline as we adjust our military programs to our national security needs. The sequester is at worst harmless; at best it's an invitation to speed the process of moving away from a Cold War force structure to one suited to the modern world. ...
"Would the upper-end tax increases programmed to take effect in January be a disaster? No, they would not be. There is no evidence that the low tax rates on the wealthy encourage them to spend or invest, no evidence that higher tax rates would deter the spending and investment that they might otherwise do. ...
"Would the middle-class tax increases, end of unemployment insurance and the abrupt end of the payroll tax holiday programmed for the end of January risk cutting into the main lines of consumer spending, business profits and economic growth? Yes, over time it would. But the effects in the first few weeks will be minimal, and Congress could act on these matters separately, with a clean bill either before the end of the year or early in the new one."
Galbraith also wrote the book "The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too," and a new preface to "The Great Crash, 1929," by John Kenneth Galbraith.

Giana Peranio-Pazg (413)
Wednesday December 19, 2012, 10:41 pm
We musn't let the GOP win in this matter or in any matter for that matter...

Brian M. (211)
Thursday December 20, 2012, 6:26 pm
The fiscal cliff is a perfect example of bipartisan misinformation foisted on the American people to ensure that we will quietly comply as the corporate duopoly shoves a harsh austerity package of cuts to social programs down all of our throats.

Billie C. (2)
Thursday December 20, 2012, 7:33 pm
obama's going to let us go over the cliff anyway. he's not interested in making deals, only putting the blame on the gop. that's been his plan all along.

Dorothy N. (63)
Thursday December 20, 2012, 11:16 pm
Nice to hear somebody come out and name the proposed theft of people's Social Security as theft...

But I'd say Obama's just trying too hard for the sake of the country the Republicans are, unfortunately, determined to undermine for their own profit and power, definitely not in collusion with the Republicans - although honestly, what can he to do without abrogating the powers of Congress, despite their gross misuse by those representing industry and billionaires rather than the people?

The American Founders did their best, but they could not have foreseen or,perhaps, protected against, this level of corruption within an entire party, and this level of propaganda making so much of the country into disinformed dupes fighting against their own interests?

Marie W. (67)
Thursday December 20, 2012, 11:56 pm
Exactly- all Kabuki Theater from DC.

John Gregoire (278)
Friday December 21, 2012, 7:29 am
While some toe dancing and fancy bookwork can mitigate some of the post 1 Jan problems, the impact is still tremendous. The targetted cuts are draconian and in some areas directed. People will hurt, programs will suffer and jobs will be lost.

That sure isn't kabuki or political theater to me.

Joseph G. Paquette (1)
Saturday December 22, 2012, 5:59 am

Carole Sarcinello (338)
Saturday December 22, 2012, 4:40 pm

From Dennis Kucinich (one of the VERY FEW Congress critters we can trust):

Washington, Dec 20 -

Chained CPI Chains Seniors to PovertyCongressman Dennis Kucinich (D-OH) today strongly objected to a proposal to cut Social Security benefits. The White House suggested a reduction in Social Security to cut costs as part of the so-called “fiscal cliff” negotiations.

The proposal called the “Chained Consumer Price Index” would result in a reduction of benefits for Social Security recipients even though Social Security does not contribute to the debt and should not be part of debt reduction negotiations.

Kucinich: NO to #CatFoodChristmas

“Will Seniors be pushed off the ‘fiscal cliff’?

Social Security did not cause the deficit, but the White House’s plan to lower Social Security cost-of-living benefits could eventually reduce Seniors’ annual benefits by hundreds of dollars. The gimmick is called the ‘Chained Consumer Price Index.’ The Chained C.P.I. works this way: As the cost-of-living goes up, seniors inevitably turn to cheaper alternatives.

See video here. Congressman Kucinich’s remarks follow.

“For example, if seniors usually eat steak but then can’t afford its higher price, they can switch to something cheaper, like cat food- - and the cost-of-living calculation would be ‘chained’ to the cheaper item - - cat food. So, the less you pay for food the less benefits you get. The ‘chained CPI’ benefit cut will chain aging seniors to a poverty of choices, a lower standard of living, with cheaper products.

“The chained CPI formula doesn’t take into account seniors’ rising health care costs. If it did benefits would go up. There is no justification to cut Social Security benefits. No to throwing seniors off the fiscal cliff. No to a Cat Food Christmas.”


Theodore Shayne (56)
Sunday December 23, 2012, 12:36 pm
Well, of course it's a scam. It's another way of Friedmanizing America that began under Ronnie Raygun; continued with the repeal of Glass-Steagall under Slick Willy; and was utilized by Willy to justify globalization and outsourcing which has continued to the present day. Now Obama wants another bailout for most of the same jokers who got it the first time around and are still mismanaging their firms. Guess who's paying? You are along with decrease in wages; employment and all types of services. We are just beginning to see it here in Canada. The whole plan is to decrease population; to create a two tier global system wherein the majority are indentured wage slaves ruled by the upper ten percentile. Welcome to the new world order. The fiscal cliff is all part of the big game these guys play; and we're the victims whose suffering is increased and offered up as a pleasing incense unto their shining lord.

l L. (1)
Sunday December 23, 2012, 8:58 pm
thank you Brian... The video is appreciated. WoW.. we are really here.. aren't we? So unreal... when I listen to the info in the video and being told it is a theft of social security and how; I think of Mitt Romney and how it is said he made his money off the stock market.. I can just imagine the manipulations that took place to work that system.
The President said this week both parties have to compromise. No one side gets 100% of what they want.. It is a give and take. It is not all Democrats or Republican way.. It's about leadership to make the tough decisions. WHAT STOOD OUT MOST WAS IT IS (SOMETHING LIKE THIS) nOT JUST FOR AMERICA BUT FOR THE STATE OF THE WORLD????
What is he saying? What are we sacrificing for now?
I feel like the rest of you... I don't like it.
But they seem hell bent on pulling this off anyway whether we want it or not.
Preplanned for their NWO?
I try not to let it bother me.
But I just knew it was coming. It's just it's the same old gimmicks to do the same thing oveer and over again.
On Current T.V; I saw this man's Gavin something's show and he had some people on there interviewing them about Corporate America and Technologies and what they have planned for 2013 for us. They talked like they are moving forward and corps will do their thing with no restraint from the peoples government. This aired on Saturday evening, this past weekend. Gavin talked about the microchip and could get any direct answer from the persons about the plan on us with it.
So none of this is looking promising.
Only time will tell how this all will play out. I try not to worry about it.
I don't like it tho.

l L. (1)
Sunday December 23, 2012, 9:01 pm
Correction: Gavin could not get any direct answer from the persons about the plan on us with it/microchip inplantation.

Past Member (0)
Tuesday December 25, 2012, 6:36 am

T P (47)
Monday December 31, 2012, 4:36 pm
I have a group and petition on links below. This petition of mine could also go into being about the fiscal cliff. Let’s have confidence and faith in the petitions. My petition needs 1,000 signatures in total. Let’s not be or act selfish towards one another. We could all share this group and petition with people we know. Here are the links below. Please sign the petition if you haven’t.

Reshaping the World


Nancy C. (810)
Wednesday January 2, 2013, 10:49 am
We all need to be aware and working locally to hang on to any constitutional rights that remain. If we can't eat or get meds, have a decent roof over our heads, the right to life itself is compromised. Citizen's United must be overturned. Corporations need to be put back in their proper position as business only. Please boycott the big guys...

Nancy C. (810)
Wednesday January 2, 2013, 10:52 am
ps, do you find it interesting that 2 groups in my own family cannot get insurance or fema help to refurbish their homes (living elsewhwere) while the rich were cozy and safe? right away...?

Jim Phillips (3200)
Monday January 7, 2013, 7:01 pm
Of course the "fiscal cliff" is a scam foisted upon the average American people.

Just another scare tactic device to get people to think that cutting social security,
medicare, medicaid and entitlements would be good for the budget. It is an outright lie.

Social security is an independent and separate savings program set apart, away from the federal budget.

It is just too bad that the media does not inform, teach people about social security as being not part
of the federal budget.

The problem is that the federal government has been dipping its collective hands into the savings
program and borrowing money from it to pay for "other" things like, gasp, war. President Johnson
was the first president to do this. Since then, other administrations have "borrowed" (stolen) money
from it.

We need to cut the massive military & its contractors by 50%.

We cannot allow Social security funds to be privatized into Wall St. If that ever happens, one would
be looking as the biggest theft of money ever seen and done!

People need to be educated about Social Security that it is an independent program.

Ty, Brian.
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