With the financial MSM salivating over the fiscal cliff, today’s chart of the day brings a little perspective to the situation. 
Obama’s proposed tax hike solution, compared to a visual of the true severity of the problem facing our country via unfunded liabilities.



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  1. Don’t get me started. 
    The fiscal cliff is a free fall amounting to 30 years and $220 trillion.  But the most immediate part is a very likely 5% hit to the GDP from sequestration and tax increases, Obamacare’s effects of small businesses which will reduce employment and hours for millions of the hard working low income service people who are going to find themselves hurt by all these effects. When Greece started its free fall its GDP dropped 5%.  It’s now close to 10% YOY.

    • And as food stamps get cut those service people will start to run out of food to eat. Once they realize the only way to get food is to go out and steal it big cities will turn into battle zones.

    • “Don’t get me started.”

      No need for that, AG.  You have a magneto and are therefore a self-starter.  😉

      As to the “fiscal cliff”… it is basically an admission that we, as a nation, are not sufficiently competent to handle our own financial and economic affairs.  Because of this, we need a mechanical process that reduces our profligate spending while raising the taxes to actually pay for some of this spending rather than simply foisting the bill for our excesses off onto our descendants.  THIS is being responsible, IMHO, and not as the prez says about hiking the debt ceiling.  That is not being responsible.  It is continuing the same old irresponsible consuming and spending of more than we create and have. 

      Personally, I would rather see us go over the cliff, waterfall, or whatever metaphor you prefer than to continue piling more unpayable debt on top of the unpayable debt we already have.  A lousy deal really is worse than no deal at all because it will not solve this problem but it will dampen the desire to address it in any timely or effective manner.  Going over the cliff would, at long last, cause enough immediate pain to convince most of our politicians that their job is to work together to hammer out the best deal for our country and to end this partisan bickering that is getting us nowhere.  Hopefully, it will also end the search for a painless way of solving this issue.  There is none and putting off a solution in the hope of finding one only wastes time and allows this problem to get even bigger than it already is.  If not, then the country will be destroyed from within by all this BS.  I often wonder if this was what it was like as the Roman Empire fell.

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