Ohio officials keep eye on 'fiscal cliff' talks

Ohio officials are watching with interest the negotiations in Washington to avert automatic tax hikes and spending cuts set to start with the new year.
Associated Press
Dec 18, 2012

The state's budget director says the tax increases are a greater concern to him, because of the potential they have to send the nation into an economic recession.

Tim Keen says if the country plunges over the so-called "fiscal cliff," Ohio could find itself facing budget challenges as residents lose jobs and spend less money.

Keen said he's not following every development in the ongoing talks between President Barack Obama and House Speaker John Boehner of Ohio. But he said he's trying to take their impact into consideration while writing Ohio's two-year spending plan.

Gov. John Kasich will release his budget in February.

 

Comments

2cents

http://www.detroitnews.com/artic...

Who cares, the US will only breath the poluted air from China like the acid rain in Oragon now. We will make nothing, we will have no jobs and be governed by Washington on when to eat, breath, dress, and die!

Kimo

Re: President Barack Obama and House Speaker John Boehner of Ohio

Good place to start the cuts. Obama and Boehner should set an example by cutting their wages and benefits.

Start at the top, then work all the way down to us...........

KnuckleDragger

For once I find myself agreeing with you :) Don't look for it to happen though, because to do that would show true leadership. Something that not a single politician on either side of the aisle seems to possess nowadays. The only thing that it seems either side of the aisle can agree on is that everyone should be affected by cuts except for them.

Contango

So far the deal looks like a $1-to-$1 of taxing to new spending, solving NOTHING.

Look for a deficit of $20T in 2016.

Gonna beef up my purchases of (GLD) come Jan.

Mr. Bernanke can't keep this economy on life support forever with his $85B monthly purchases of mortgages and Treasuries.

Stein's Law: "If something cannot go on forever, it will stop,"

To some analysts the Depression began in late 2007, while millions of Americans have since been added to the SNAP, welfare, Medicaid and disability rolls; the effects have just been papered over.

http://www.zerohedge.com/news/20...

Contango

Japanese Pension Funds Seek Safety in Gold:

http://www.moneynews.com/StreetT...

What do they know that you don't?

2cents

$1665 this morning two weeks ago $1735 if your day trading!

Contango

@ 2cents:

IMO, day trading is for suckers.

Their's and other trading school tag lines should be: Lose more money than you ever thought possible in the shortest amount of time!

Not a problem, I tend to use dollar cost averaging. Been buying (GLD) since '09 when the physical stuff was around $1K/oz.

Where else ya gonna get the potential inflation and currency hedge with The Bernank and his ZIRP?

IMO, it should be about 5% of any well diversified portfolio.

I don't trust politicos and aim to protect me and my own.

2cents

In @ 680

mikel

this is why there are problems with the negoiations regarding the fiscal cliff!

"Obama Sandy aid bill filled with holiday goodies unrelated to storm damage"..(ny post)

the man occupying the white house and his henchmen have stuffed over $$13 billion$$ non related items to hurricane sandy relief. as far as i know this bill has not passed the house and may not because of these items.

2cents

Just keep the presses running, China will love it!

KURTje

Amen Kimo..start at the top! Its getting through.

wiredmama222

It sounds, as of 12/20 at 5 am, that Mr Boehner, has lost plan B and the people went home for Christmas to return later. They simply do not wish to accept the taxes for the rich people. That is it for them. Boehner cannot get his votes.

How sad that the Republicans just don't get it. That cliff will close the loopholes and Obama doesn't care...he has nothing to lose, he can't run again so he is now in the cat bird seat.

He gave Boehner his list of cuts which were pretty good, but Boehner couldn't close the deal. What a shame.

Contango

@ wiredmama222:

There is no such thing as "cuts," it's always a proposed slow down in the growth of spending.

2016 - $20T deficit.

I call it the "fecal cliff."

EVERYONE'S taxes will rise to pay for the growth of SS, Medicare and Medicaid.

Baby Boomers will bankrupt this country.