The Leader Board
Jul 18 2012
As 'Concerns About The Fiscal Cliff Are Reaching New Heights,' Some Dems Are Splitting With Their Leadership's Threat To Go Over It
Senate Dem: 'Cliff Is So Ominous And So Potentially Destructive That We Need To Avoid It'
"If faced with a choice to extend or expire tax cuts for all, Sen. Richard Blumenthal (D-CT) tells CNN's Soledad O'Brien he would vote to extend. Sen. Blumenthal says, 'My preference is to extend tax cuts because I think that fiscal cliff is so ominous and so potentially destructive that we need to avoid it.'" ("Sen. Blumenthal: Extend Tax Cuts If Faced With A Choice To Extend Or Expire For All," CNN, 7/18/12)
"Sen. Jim Webb (D-Va.) said Thursday he's opposed to President Barack Obama's plan to extend the Bush-era tax cuts to household income under $250,000 for one year… 'That's a no,' Webb told Reuters when asked if he'd vote for the plan." ("Webb 'A No' On Obama Tax Plan," Politico, 7/12/12)
"Count Sen. Joe Lieberman as a 'no' on President Barack Obama's tax plan. The Connecticut independent has just decided he will vote against the plan, saying it's 'not what we need now,' especially since it stands virtually no chance of becoming law before November." ("Joe Lieberman To Oppose Obama Tax Plan," Politico, 7/11/12)
Dem Leadership: 'Prepared To Go Over The So-Called Fiscal Cliff'
"Democrats say they are prepared to go over the so-called fiscal cliff at the end of the year ..." ("Democrats Risk Fiscal Cliff By Targeting Top Earners' Break," Bloomberg News, 7/10/12)
- SEN. PATTY MURRAY (D-WA): "So if we can't get a good deal… then I will absolutely continue this debate into 2013… our country is going to have to face the consequences…" (Sen. Murray, Remarks At The Brookings Institute, 7/16/12)
- Q: "Do you agree with Senator Murray that if you do not get a balanced deal, you'll fight this into 2013?" SEN. HARRY REID (D-NV): "…Patty Murray knows what she's talking about." (Sen. Reid, Press Briefing, 7/17/12)
Expert Warns: Going Over Cliff Would 'Drive A Worldwide Recession'
"Morgan Stanley said this week that concerns about the fiscal cliff are reaching new heights across a wide range of industries. It is already seeing reductions in business orders and hiring, among other areas." ("U.S. Economic Fears Shift From Europe Toward 'Fiscal Cliff,'" The Washington Post, 7/17/12)
- "'While our analysts are somewhat less worried about the impact of European bank strains,' a Morgan Stanley report said Monday, 'the negative impact of fiscal cliff uncertainty is becoming more widespread.' The potential economic impact could smother the flickering recovery and further stifle job creation, analysts warn." ("U.S. Economic Fears Shift From Europe Toward 'Fiscal Cliff,'" The Washington Post, 7/17/12)
"Honeywell CEO David M. Cote, who also served on the Bowles-Simpson commission. … 'there's a lot of us that are a little scared about' the $600 billion cliff looming in January. Going over that cliff would 'drive a worldwide recession. You can't let that happen,' Cote said." ("Coalition Urges Tax Hikes, Entitlement Cuts To Tame National Debt," The Washington Post, 7/17/12)
UNIVERSITY STUDY: "A new economic impact analysis concludes that 2.14 million American jobs could be lost if the Budget Control Act's sequestration mandate takes effect on January 2, 2013." ("Sequestration Puts 2.14 Million Total Jobs At Risk," George Mason University, 7/17/12)
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