The Mudcat Café TM
Thread #148796   Message #3458464
Posted By: Bobert
28-Dec-12 - 07:29 PM
Thread Name: BS: Thanks, GOP. Fiscal Cliff will cost me "$____"
Subject: RE: BS: Thanks, GOP. Fiscal Cliff will cost me "$____"
Well, unfortunately, we do know what it means... It means that unemployment compensation will end immediately for millions of folks who have lost their jobs... That means they won't make their mortgage payments or rent... That means more foreclosures and homelessness... We already have hundreds of thousands of families living in their cars...

It means that the folks who are barely hanging on will see major take-home pay cuts... 1/2 of Americans (working or not) are already living at 125% of poverty or less... A take-home pay cut will push hundreds of thousands, maybe into the millions closer to or below the poverty lines, which BTW, are already unrealistic...

No, it won't be a cliff for the well-off or upper middle class but for half of Americans it will be a cliff...

B~