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US To Officially Go Over The Fiscal Cliff

from Zero Hedge:

As we forecast back in November, it is now official that the House will not vote on any deal out of the Senate, assuming there is one which there won’t be of course, later today, which means America will officially slide off the Fiscal Cliff. And now cue everyone being very hopeful and optimistic a deal will get done momentarily, if not sooner, in 2013. Of course, we all know just how far optimism takes America’s dysfunctional Congress. The biggest irony in all of this is that the only winners today were the much hated “1%”-ers, whose taxes may or may not go up, who just got to book major year end profits on this last minute ramp. The remainder of America’s population can quietly look forward to 2013 with “hope” and “optimism” that in 2013 Congress will finally stop being dysfunctional. Good luck. Oh, and before we forget, America just breached its debt ceiling: now the pillaging of various government retirement funds begins.

Read More @ Zero Hedge.com

4 comments to US To Officially Go Over The Fiscal Cliff

  • steelerdude

    Is the first time history? Does anyone know?

  • JOHN IN PHILADELPHIA

    Looks like gold could not wait for congress to decide. It went over its own fiscal cliff at 6pm this evening. Check out the Kitco gold chart

  • In 2022, with no intervention, the U.S. National Debt will be $25.8 Trillion. Under the Obama plan, it will be $25.4 Trillion. Under the Boehner plan, it will be $25.2 Trillion. In other words, all this talk about the “Fiscal Cliff” is PURE POLITICAL THEATRE.

    But, don’t take MY word for it.

    Gee, I wonder if the American Economic outlook for 2022 has anything to do with all those Americans “hoarding” silver and gold bullion? Here is Lou Dobbs, explaining it so well, so concisely, so SIMPLY – like only a logical, rational, thinking individual can:

    Lou Dobbs: The Fiscal Cliff SCAM FULLY EXPLAINED !!!

    WOW! Excellent analysis.

    http://xrepublic.tv/node/1587

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