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Tonjia Tonjia
wrote...
Posts: 90
Rep: 2 0
11 years ago
I've seen it in newspapers and saw two governors on NBC's Meet the Press talking about it today.
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wrote...
#1
11 years ago
It's what we're teetering on the edge of after four years of Obama outspending Bush.
wrote...
#2
11 years ago
A rise in all taxes an spending cuts.
wrote...
#3
11 years ago
Automatic spending cuts for the feds goes into effect if they don't agree on a compromise plan. There may be layoffs and shutdowns of some government programs. Horrid thought isn't it. Ha Ha...
wrote...
#4
11 years ago
It is a phrase invented by Ben Bernanke to describe the forthcoming  automatic spending cuts and tax increases.

The tax increases are a result of certain tax exemption measures coming to the end of their timespan, and the spending cuts are automatic also due to previously designed mechanisms.  The combination of these two things at the same time means there will be less money about.

The good side is it will reduce the US deficit, the bad side is a lot of people might go bust.
wrote...
#5
11 years ago
Because Obama has not addressed our fiscal spending of a Trillion dollars a year at the end of this year all Bush Tax cuts will expire and all his Obamacare taxes will be implemented.  Many are calling it Taxmagadden......Here is a list of taxes to be imposed...scroll down through them......

http://www.atr.org/full-list-obama-tax-hikes-a7213
wrote...
#6
11 years ago
Its starting to look like its going to be mroe difficult than it has for alot of people
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