In Minnesota, voices of optimism on fiscal cliff are few, far between

  • Article by: KEVIN DIAZ , Star Tribune
  • Updated: December 30, 2012 - 10:30 AM

With the clock counting down to midnight on New Year's Eve for a fiscal cliff deal, Minnesotans are bracing for what could be a recession-inducing wallop of tax increases and federal spending cuts.

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CullenDec. 29, 1210:50 PM

I say we go over the cliff. The CBO says an average family will see an increase in taxes of $3,000/year and we will cut $55 Billion from both the military and entitlement spending. These higher taxes and lower spending will drop the annual deficit from $1.1 Trillion to $641 Billion. Yah, it will hurt and we may slip into a recession again, but that is A LOT better than giving our irresponsible debt to our children.

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erikj3Dec. 29, 1211:34 PM

Go over the cliff, then vote on tax cuts for the 99% only. The rich can afford to pay higher taxes. The rest of us, not so much.

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demandsiderDec. 30, 12 2:32 AM

Cullen, Austerity did not work during the Depression, and it isn't working for Europe. Government can spur wealth creation through infrastructure spending and inducements for DOMESTIC manufacturing. All of the stable, faster growing economies are currently doing this, and we should, too.

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callmeronDec. 30, 12 2:44 AM

Bill Clinton and his Democrat Congress raised taxes to the rates they will soon revert to right after Clinton took office in 1993. Democrat voters voted for this, time and again. They have no right to complain. Even with the forecasted "new cash" from the tax increases, which is unlikely to be accurate because higher tax rates do not necessarily mean higher revenue because of reduced private sector economic activity, the budget deficits under Obama will still be nearly TRIPLE what they were under Bush. How many years can Obama be allowed to run TRILLION dollar plus budget deficits? Well, "four more years" was the chant, and I guess Democrats are intent on bankrupting the country. So let it happen. Destroy jobs, bankrupt the country, you Democrat voters will be the ones hurt most by your own policies. I laugh when I think of all the Obama supporters losing their jobs.

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comment229Dec. 30, 12 4:28 AM

All right! A highly intellectual quote from Michelle Bachmann. The people of the sixth district must be so proud. Let's go with her solution right away!!! Now, what was it?

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paulusDec. 30, 12 6:04 AM

The liberals have done a great job of convincing that the rich (successful) are the problem in this country. Unfortunately, a lot of people believe it, even when you provide the facts that if you conficated all of the wealth from the 1%, it wouldn't even dent the debt/deficit. The left in this country represent the low information voters who vote for the party that will give them the most free stuff. Very sad that we have become a country of takers. We have a huge spending problem, and the sooner it's addressed, the better off we will be in the long run.

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tpods1Dec. 30, 12 6:15 AM

For all the Bush years we heard only negative about all the cuts. Now if you're a Democrat you want them for 99% of the people. So are you saying Bush was 99% correct on tax cuts? I don't remember it that way. I think they should let them all expire and then you can see what Bush gave you for the last ten years.

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probsolverDec. 30, 12 6:29 AM

" Go over the cliff, then vote on tax cuts for the 99% only. The rich can afford to pay higher taxes. The rest of us, not so much" -- how noble of you. I want stuff but want the other guy to pay. Do you live your life by this motto?

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greg62Dec. 30, 12 6:49 AM

Too bad Obama got back in. We wouldn't be facing this crisis now if Romney had won.

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elmore1Dec. 30, 12 7:08 AM

Whether it is 250 or 400k it isn't nearly enough to cover the deficit. We need serious cuts to govt spending and we will all end up paying through higher taxes or reduced services. No sense kicking it down the road again for our children to pay for.

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