{"id":6324,"date":"2012-12-03T18:49:51","date_gmt":"2012-12-03T23:49:51","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6324"},"modified":"2012-12-03T18:49:51","modified_gmt":"2012-12-03T23:49:51","slug":"doomsday-for-the-fiscal-cliff-abc-news","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/","title":{"rendered":"\u2018Doomsday\u2019 For The Fiscal Cliff? &#124; ABC News"},"content":{"rendered":"<p>Republicans are considering a \u201cDoomsday Plan\u201d if fiscal cliff talks fail. The ABC&#8217;s Jon Karl reports:<\/p>\n<blockquote style=\"background-color:#ddddff;\"><p>It\u2019s quite simple: House Republicans would allow a vote on extending the Bush middle class tax cuts (the bill passed in August by the Senate) and offer the president nothing more \u2013 no extension of the debt ceiling, nothing on unemployment, nothing on closing loopholes. Congress would recess for the holidays and the president would face a big battle early in the year over the debt ceiling.<\/p>\n<p>Two senior Republican elected officials say this Doomsday Plan is becoming the most likely scenario. A top GOP House leadership aide confirms the plan is under consideration, but says Speaker Boehner has made no decision on whether to pursue it.<\/p>\n<p>Under one variation of the plan, House Republicans would allow a vote on extending only the middle class tax cuts and Republicans, to express disapproval at the failure to extend all tax cuts, would vote \u201cpresent\u201d on the bill, allowing it to pass entirely on Democratic votes.<\/p>\n<p>By doing this, Republicans avoid taking blame for tax increases on 98 percent of income tax payers. As one senior Republican in Congress told me, \u201cYou don\u2019t take a hostage you aren\u2019t willing to shoot.\u201d<\/p><\/blockquote>\n<p>This is a time for mending bridges damaged during the election. The ability of the President to unify rather than polarize the two sides of the house will be tested in the next few weeks. Let us hope that he measures up.<\/p>\n<p>via <a href=\"http:\/\/abcnews.go.com\/blogs\/politics\/2012\/12\/doomsday-for-the-fiscal-cliff-the-note\/\">\u2018Doomsday\u2019 For The Fiscal Cliff? (The Note) &#8211; ABC News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Republicans are considering a \u201cDoomsday Plan\u201d if fiscal cliff talks fail. The ABC&#8217;s Jon Karl reports: It\u2019s quite simple: House Republicans would allow a vote on extending the Bush middle class tax cuts (the bill passed in August by the Senate) and offer the president nothing more \u2013 no extension of the debt ceiling, nothing &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;\u2018Doomsday\u2019 For The Fiscal Cliff? &#124; ABC News&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,34],"tags":[59,1088,3336],"class_list":["post-6324","post","type-post","status-publish","format-standard","hentry","category-economy","category-us-canada-countries-regions","tag-fiscal-cliff","tag-doomsday-plan","tag-tax-cuts"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u2018Doomsday\u2019 For The Fiscal Cliff? &#124; ABC News - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u2018Doomsday\u2019 For The Fiscal Cliff? &#124; ABC News - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Republicans are considering a \u201cDoomsday Plan\u201d if fiscal cliff talks fail. The ABC&#8217;s Jon Karl reports: It\u2019s quite simple: House Republicans would allow a vote on extending the Bush middle class tax cuts (the bill passed in August by the Senate) and offer the president nothing more \u2013 no extension of the debt ceiling, nothing &hellip; Continue reading &quot;\u2018Doomsday\u2019 For The Fiscal Cliff? &#124; ABC News&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2012-12-03T23:49:51+00:00\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"\u2018Doomsday\u2019 For The Fiscal Cliff? &#124; ABC News\",\"datePublished\":\"2012-12-03T23:49:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/\"},\"wordCount\":266,\"commentCount\":6,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"keywords\":[\"\\\"Fiscal Cliff\\\"\",\"Doomsday Plan\",\"tax cuts\"],\"articleSection\":[\"Economy\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/\",\"name\":\"\u2018Doomsday\u2019 For The Fiscal Cliff? &#124; ABC News - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"datePublished\":\"2012-12-03T23:49:51+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/03\/doomsday-for-the-fiscal-cliff-abc-news\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"\u2018Doomsday\u2019 For The Fiscal Cliff? &#124; ABC News\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1E0","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":6446,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/11\/republicans-send-fiscal-cliff-counteroffer-to-obama-business-insider\/","url_meta":{"origin":6324,"position":0},"title":"Republicans Send Fiscal Cliff Counteroffer To Obama &#8211; Business Insider","author":"Colin Twiggs","date":"December 11, 2012","format":false,"excerpt":"Brett LoGiurato reports that House Speaker John Boehner made a counter-offer in fiscal cliff negotiations. His spokesman Michael Steel issued a brief statement: \"We sent the White House a counter-offer that would achieve tax and entitlement reform to solve our looming debt crisis and create more American jobs. As the\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6526,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/02\/congress-passes-fiscal-cliff-deal-wsj-com\/","url_meta":{"origin":6324,"position":1},"title":"Congress Passes Fiscal Cliff Deal &#8211; WSJ.com","author":"Colin Twiggs","date":"January 2, 2013","format":false,"excerpt":"WSJ writes that Congress passed a compromise bill to avert the fiscal cliff: The bill ...... was passed over opposition from conservative Republicans in the House who objected to the fact that it contained no long-term spending cuts of any significance. Both the U.S. Senate and House of Representatives approved\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6067,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/07\/markets-worry-about-fiscal-cliff\/","url_meta":{"origin":6324,"position":2},"title":"Markets Worry About Fiscal Cliff","author":"Colin Twiggs","date":"November 7, 2012","format":false,"excerpt":"Michael S. Derby writes about the looming fiscal cliff: The central problem is the lack of change. President Barack Obama was reelected. Democrats retained control of the Senate, while Republicans held on to the House of Representatives. The fiscal cliff can only be resolved if lawmakers work together. \u201cReturning to\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5988,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/01\/fiscal-cliff-two-candidates-two-approaches\/","url_meta":{"origin":6324,"position":3},"title":"Fiscal Cliff: Two Candidates, Two Approaches","author":"Colin Twiggs","date":"November 1, 2012","format":false,"excerpt":"By ERIC PIANIN and MERRILL GOOZNER, The Fiscal Times [Romney and Obama] agree that a stopgap measure is needed before January 1 to temporarily extend the raft of Bush era tax cuts and other measures set to expire. However, Obama has signaled his intent to veto even a few months\u2019\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6525,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/01\/01\/disappointing-fiscal-cliff-compromise\/","url_meta":{"origin":6324,"position":4},"title":"Disappointing fiscal cliff compromise","author":"Colin Twiggs","date":"January 1, 2013","format":false,"excerpt":"Vice President Joe Biden and Senate Minority Leader Mitch McConnell (R, Ky) brokered a deal that is likely to be approved by the Senate early Tuesday before being put to a vote in the House later in the day. The WSJ writes: By waiting until the last minute, and reaching\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6160,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/11\/13\/richard-fisher-politicians-need-to-get-their-act-together\/","url_meta":{"origin":6324,"position":5},"title":"Richard Fisher &#124; Politicians need to get their act together","author":"Colin Twiggs","date":"November 13, 2012","format":false,"excerpt":"Texas Fed President, Richard Fisher believes fiscal authorities need to get their act together. \"There is a limit to what we can do. We can't have a Buzz Lightyear monetary policy: to infinity and beyond.\" [gigya name=\"cnbcplayer\" PLUGINSPAGE=\"http:\/\/www.macromedia.com\/go\/getflashplayer\" allowfullscreen=\"true\" allowscriptaccess=\"always\" bgcolor=\"#000000\" height=\"380\" width=\"400\" quality=\"best\" wmode=\"transparent\" scale=\"noscale\" salign=\"lt\" src=\"http:\/\/plus.cnbc.com\/rssvideosearch\/action\/player\/id\/3000129200\/code\/cnbcplayershare\" type=\"application\/x-shockwave-flash\"] Fisher's\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6324"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6324\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}