Double dip recession.
Taxes will increase for everyone except the 47 percent who don't pay taxes, and spending cuts will only be in military, which has already taken a huge cut under Obama.
My tax bill will go up 3K and I'm waaaay below 250K income.
But I have no problem with it. I'd gladly pay 3K to see another recession. Stuff is gonna get really cheap until the govt starts printing money.
This. It will put us in a recession.
PLUS it doesn't address entitlements so you still won't have a long term fiscally stable situation.
It would be bad for everyone, but particularly bad for republicans: increased taxes, defense cuts, little entitlement change.
I am not sure why democrats don't want to go off the cliff.