Financial Cliff Ahead – How Will You Go Down, Free Fall or Rappel?

28 June 2012

Ben Bernanke said it. Today, David Fisher, President of Dallas Federal Reserve says it: we are heading toward a financial “cliff”.

Fisher on CNBC foresees 25% unemployment, even worse. Why? So-called “Bush” tax cuts expire at the end of this year and a flood of new taxes fall upon our backs. By ‘our backs’, I’m referring to the few of us who actually pay income taxes. Approximately half our people pay no income taxes whatsoever.

Federal Reserve Chairman Ben Bernanke testifying before Congress

 

The non-tax individual mandate morphed into a non-mandate individual tax. We are well on our way down the path toward national bankruptcy close on the heels of France, Greece and Spain.

Isn’t it interesting how two people given the exact same information can arrive at conclusions diametrically opposed to one another?

One thought on “Financial Cliff Ahead – How Will You Go Down, Free Fall or Rappel?

  1. Never I my “wildest” dreams did I ever think I would see the point where our country is now! Everyone thinks the government can solve anything. They are a failure w/the post office, energy, national defense, foreign relations, banking, agriculture, …you name it, government is totally incompetent @ everything they touch!…now they want to ruin the best healthcare system in the world!

    Get ready you Obamaites, your time is coming & the free ride will be over!

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