Thursday, December 20, 2012

Fiscal Cliff "Nothingness"

Q - How much genuine difference is there between the positions of President Obama and Speaker Boehner in the fiscal cliff negotiations?
A - Hardly any.

Q - And how much difference would reconciling their positions into an agreement make toward solving our nation's longstanding annual deficits and cumulative debt "disorder?"
A - Hardly any.

One simple chart tells the 'hardly any difference,' aka "nothingness," tale of the ongoing fiscal cliff deliberations in Washington.

The trivial difference between Obama and Boehner, in one chart:
"There really isn’t much difference between President Barack Obama’s and House Speaker John Boehner’s respective plans to cut the deficit, when put into perspective.

This chart shows the projected federal government deficits — not including the adjustment for whatever plan is agreed — set out with the reported differences between Obama and Boehner, which appear to be over $350 billion in interest saved over a decade.

For example’s sake, that $350 billion was spread evenly across each year (in reality, it would be backloaded).

As you can see, those faint blue bars show the difference is not much. And remember, this chart doesn’t even factor in existing debt of over $16 trillion — only on the new debt that’s expected to accumulate."

Summing Up

Talk's cheap -- on both sides of the aisle.

Meaningful action is non-existent -- on both sides of the aisle.

We'll get there -- the only question is where's there.

And when we'll get there is an issue, too, of course.

It reminds of the old story about the pilot who announced that he was making great time -- but also admitted that he had no idea where he was going.

Politics sucks.

Thanks. Bob.

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