The Euro Zone is officially in a recession. A double dip recession to be exact. The issue for Americans is whether President Barack Obama and the GOP House can come to an agreement to head off the hundreds of billions in cuts and tax increases that will take effect at the end of the year.
At the same time, the White House and Speaker John Bohner simultaneously said that they will be able to come to an agreement, have the mandate on taxes, and drawn lines in the sand regarding taxes. The only tiny specter of hope is that both sides are find with additional revenues. But the GOP wants domestic cuts, you know, the pain that President Obama was probably referring to when his conversation with the Des Moines Register.
And most in the press is calling whatever agreement, should the White House and the speaker can come up with, the "grand bargain" and both sides have said they don't want to kick the can down the road.
But what is cyberspace, more specifically, Twitterfolks, saying about this? This is what I found when I typed in "#fiscalcliff" to get an general idea of what folks and media are talking about. And this guy stood out:
Not that I'm buying anything he says. Dude is calling for revolution and other stuff things after President Obama won a second term. But others on Twitter seems more helpful.
There is Speaker Bohner's supposed plan. It's just what he wants if the Democrats cave which we know they won't. In fact, congressional leaders will meet with the President tomorrow at the White House.
What else have I learned?
- Well, also from Twitter, I learned that we have 47 days until we go over the cliff.
- Warren Buffett wants Obama to stand firm on taxing the rich.
- Only 25 GOP congressmen need to cross the party line to accept anything the Democrats and whatever the more reasonable Senate come up with to avoid the FC more on the President's terms.
- CEOs are feeling very good that a deal could be reached.
Those are very general things. The issue is that any tax revenues raised will also have to be offset by cuts. And while we don't know how they're going to raises revenues, we know even less about what cuts are coming.
So, that's where we are right now. We'll have to see where everyone stands after the White House meeting tomorrow.
So, Twitter is pretty awesome if you use it right. You can learn a thing or two. Go ahead and try "#grandbargain" and see what you come up with.