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President Barack Obama facing
fiscal cliff as stock markets fall

Telegraph [UK], by Richard Blackden

Original Article

Posted By:Attercliffe, 11/7/2012 3:51:06 PM

President Barack Obama returned to Washington facing an expected battle with Republicans over the nation's 'fiscal cliff', as stock markets on Wall Street tumbled on Wednesday. The president faces an urgent challenge to prevent the gridlock that scarred his first term as fears grew that politicians will fail to cut a deal to stop the economy falling over a 'fiscal cliff'. More than $600bn (£380bn) of tax rises and cuts in government spending are due in early January. Failure to avoid the cliff will plunge the world's largest economy back into a slump and disrupt the global economy's still


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Reply 1 - Posted by: graniteman2009, 11/7/2012 3:59:05 PM     (No. 8997388)

I hope that Boehner has a spine.

The tax rates will rise immediately if he doe not stay strong and the Dems will propose cuts in spending after 2016..

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Reply 2 - Posted by: ScarletPimpernel, 11/7/2012 4:00:05 PM     (No. 8997391)

No, the American people are facing the fiscal cliff!

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Reply 3 - Posted by: zephyrgirl, 11/7/2012 4:00:30 PM     (No. 8997395)

I doubt BO gives a hoot about the stock market.

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Reply 4 - Posted by: LadyHen, 11/7/2012 4:02:51 PM     (No. 8997414)

Obama is eating Kobe beef and playing golf thank you very much!! To suggest he is in peril in any way whatsoever is ridiculous. His base will vote him in for life like FDR if given the option in 4 years. Who doesn't KNOW this?

It is the American worker and tax payer who faces the "fiscal cliff" and then inevitable annihilation/extinction.

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Reply 5 - Posted by: Pearson365, 11/7/2012 4:04:29 PM     (No. 8997423)

House Repubs have to state "No new taxes until GDP growth is 3.0% or higher" ( currently 1.6% for 2012). Put pressure on Obama to stop harming economic growth with more regs & ObamaCare. Cannot have growth with his policies, so change his policies.

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Reply 6 - Posted by: Stlouislaxbros dad, 11/7/2012 4:05:42 PM     (No. 8997431)

Today is the day after the election.

Obama did not have a plan before the election because that would require him to work.

Today...the day after the election.. Rep. Chris Van Holland (?) (D) said that it is up to the Republicans in the House to save us from the "fiscal cliff."

Huh? Already blaming Republicans? I am shocked.

Question: Why does the government give paychecks to Democrats who only blame others and refuse to do any work?

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Reply 7 - Posted by: stryker714, 11/7/2012 4:05:43 PM     (No. 8997432)

Well if the pubs can screw it up, they will. After that last debt ceiling increase debacle, the cowardly committe idea they came up with, the slashes to the military, there doesn't appear to be much hope-based on results. Those DC politicians are dumb as they come. Good luck DC fools. I'm tuning out and saving myself the grief-no faith anymore. If we do fall off this proverbial cliff, I hope it takes all those who voted for Obama with them-to the gates of h.

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Reply 8 - Posted by: lakerman1, 11/7/2012 4:09:10 PM     (No. 8997445)

Why would a fiscal cliff bother Zero? He doesn't care.

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Reply 9 - Posted by: strike3, 11/7/2012 4:10:35 PM     (No. 8997448)

The dumbass can finally blame the last four years on his predecessor.

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Reply 10 - Posted by: Grambo, 11/7/2012 4:12:49 PM     (No. 8997458)

Alexis de Tocqueville wrote in 1835 that the great American experiment would fail when the populace realized that it could vote itself money from the treasury.

On November 6, 2012, they did just that. The takers overwhelmed the makers, and Tocqueville was proved right.

We will have second depression launched with the January fiscal cliff. God help the ObamaPhone lady.

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Reply 11 - Posted by: cinwasp, 11/7/2012 4:16:56 PM     (No. 8997470)

Boehner has no spine anymore than Obama wants to work with Republicans.

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Reply 12 - Posted by: altoona, 11/7/2012 4:17:18 PM     (No. 8997472)

The House Republicans should just go along with the Obama program. He's going to do everything he wants anyway through executive orders and regulations, while blaming the House for all consequences as per Bush. Soooo, give the people what they want. Cooperate. Rush the destruction the voters seek and don't set yourself up for blame.

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Reply 13 - Posted by: jimmyfoxhound, 11/7/2012 4:19:04 PM     (No. 8997475)

Help the Obamaphone Lady?? She's been helped on my dime for long enough. I welcome the collapse of America. This is what the left wants, let's give it to them. Time for atlas to shrug.

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Reply 14 - Posted by: faith_and_reason, 11/7/2012 4:22:16 PM     (No. 8997486)

I understand the Dodd-Frank induced housing crash brought a large drop in the stock market before the 2008 elections. As the prospect of nothing better than McCain or Obama brought another very large drop, it still remained to be seen how bad the prospects were. When Obama won, the stock market dropped five percent the day after he won. That was the worst day-after-election for president.

The stock market has limped alond for four years, and the day after the election, upon discovery that Obama and his regime are in charge again, the fifth worst day-after-election stock market plunge occurs.

CNN does not even hint that the election result is the major reason.

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Reply 15 - Posted by: aintnojoke, 11/7/2012 4:29:41 PM     (No. 8997511)

Next, the end of motgage deduction, super taxes, hyper inflation, wage and price controls, death of private enterprise. Russia here we come.

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Reply 16 - Posted by: gobushcheneygo, 11/7/2012 4:34:13 PM     (No. 8997526)

Baloney. Zero doesn't give a fig about Wall Street except what he can get from the big money men. If investors lose everything, Zero will throw a party. He believes investors should lose everything. It's not fair that they have so much. Social justice, baby. Just ask buddy Van Jones.

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Reply 17 - Posted by: Phil_hk, 11/7/2012 4:44:37 PM     (No. 8997572)

If I were still in the US I'd get out of the stockmarket. If I could I'd get out of banks at this point. You want to reduce your exposure at this point.

Buy 2 to 5 acres - whatever you can pay cash for - in an unincorporated area to avoid the school taxes that are coming Sell vegetables for cash to Obamiots. You can't wait this out you might can survive in relative freedom for several years

Make sure that you do not pay one cent in income taxes to either the state or the Federal government

Do not help people from Blue States - Period. Even if they are family. If they voted for the Obamanation of Desolation they are minions of the Anti-Christ. They are probably beyond reach. Let their god and savior government help them

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Reply 18 - Posted by: dman, 11/7/2012 5:11:31 PM     (No. 8997695)

Step aside, Mr. Speaker. NerØbama broke it - let him own it. Pain in the short run is worth liberty in the long run. (The middle part of "lives, fortunes, and sacred honor. Oh, that.)

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Reply 19 - Posted by: KTWO, 11/7/2012 5:27:43 PM     (No. 8997737)

Agree with others, Obama doesn't care about finances. He wants power and he has it. Now he will seek absolute power.

He will now proceed with the targeting and control or ruin of any US entity or person, within or outside the government with any powers or influence who impedes him in any way.

Holder's DOJ will simply make serious problems, aka as troublemakers, disappear. It won't be necessary often, a few examples will suffice.

The media will endorse ti all.

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Reply 20 - Posted by: philemon1967, 11/7/2012 5:32:36 PM     (No. 8997754)

It's was just a matter of time before investors started divesting and doing a John Galt to other countries with freer economies where takers don't get to vote themselves freebies. Obama can't claim lack of economic patriotism because foreign investors have no obligation to use their capital to give handouts to Obama's non-productive bums seeking free phones, free contraceptives & free abortions.

The blue state lemmings apparently still believe in their faux Messiah's ability to turn Keynesian spending into genuine private sector jobs. They are about to learn some painful lessons in Reality's school of hard knocks. That their messiah doesn't care about their sufferings. All he cares about is himself.

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Reply 21 - Posted by: Blue-Z-Anna, 11/7/2012 5:45:56 PM     (No. 8997796)

Move to the country.

It's expensive to fluke with rural folks.

Most people live in the metro areas.

Most coercive programs focus on the most densely populated areas.

Physical, geographical distance of just a few miles out of town can put you WAY DOWN on the list of who gets micro-managed first.

And....gives you time to polish your skills with guard dogs, electric fences and high powered weaponry.

We didn't pick this fight.

Eric Holder of the "Just Us" dept. did.

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