Treasury Secretary Timothy Geithner said on Sunday that he “can’t promise” that the United States won’t go over so-called fiscal cliff, insisting it is up to congressional Republicans.
“That’s a decision that lies in the hands of the Republicans that are now opposing an increase in tax rates,” a key sticking point, Geithner told “Fox News Sunday.”
House Speaker John Boehner, the top U.S. Republican, said later in a separate appearance on the show: “I don’t want any part of going over the cliff. I’m going to do everything I can to avert that.”
(Reuters)
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3 Responses
How about the democrats stop wasting so much taxpayers money?
Among the impacts: 1. Stronger dollar; 2) Small deficit; 3) Less need for the Treasury to borrow; 4) Less need for the Federal Reserve to print money; 5) Lower commodity prices.
The fiscal cliff is a “perfect storm” for Value investors who need to buy low in order to make a profit selling high. It’s a meaningless crisis to be following by prosperity. “Fixing” the problem by lowering taxes, increasing expenditures, and increasing the deficit is counter-productive.
Of coure we’re going over the cliff. The democrats have wanted for the longest time to repeal the Bush tax cuts. They just want to blame the republicans. This is their chance and they’re loving every minute of it. The incompetent republicans just don’t have a clue as to how to deal with this.