A reasonable timeline, presuming a deal comes together, might be the release of a plan in the first week of December, followed by two weeks of legislative activity, with a target of wrapping up in the middle of the month. 15 December is a soft deadline, because payroll companies generally require two weeks to update withholding software to accommodate changes in income tax rates; a patch to the alternative minimum tax for 2012 will also need to be clear well in advance of 1 January so as to not delay tax filing. But Friday, 21 December, is seen as the real “last ditch” deadline so that members can adjourn before the holiday.
Quote from Undisputed-Other countries want to buy the reserve currency to put it in their vaults, and the issuing country can therefore inflate it's money supply without immediate price inflation. Money printing normally just makes that money worthless, but if other countries want to buy that money as a reserve, it disappears in vaults and printing more doesn't cause an increase in the money supply out in the wild. You can print money and get stuff for it from other countries, and print more money and get more stuff, and there's no inflation. It essentially comes at the expense of other countries who have to expend their goods in return for paper that you just print. It's a great gig if you can get it, because those in control of the reserve currency, the bankers, can print massive amounts of purchasing power at the expense of everyone else. That's why ruling classes in different continents are attempting to establish more centralized, powerful currencies in favor of local currencies, e.g. the Euro.
Quote from Undisputed-It's not really a matter of if but when, politicians will do whatever it takes to push it off while they are in office instead of fixing the core problem. The only reason we have made it this far is because the dollar is the world reserve currency which gives the US increased opportunity to expand the money supply. We inflate our currency at the expense of the rest of the world, it's only a matter of time until that ends.
Quote from the_cardfatherAs I understand it, there are numerous chinese companies lined up to purchase the twinkie name at least. What's in that cream filling after that is anyone's guess.
Quote from bocephusLike I have been saying for some time, medical technology is what is killing America. We are taking care of more and more people who without those medical improvements would not be with us. Its the cost of living longer, and no so healthy.
Quote from VaclavWait, wow - that infographic has far different information than I thought on the cut scenario - got a text elaboration on it handy?
I for example thought the defense cuts were much more substantial than that. And Payroll/UI? Is that a Federal workers cut or something?
Quote from aurorasparrow
All of these activities invariably have outcomes, but are they all quantifiable?
Quote from mystery45it isn't warren buffett. he maximizes his tax deductions every year.
not sure about bill gates. i suspect that he does the same thing only he funds it through his charity.