Interview: Simpson, Bowles, and Blankfein

[tsptalk]

I thought this was a very informative interview on CNBC with Simpson, Bowles, and Blankfein. It was on TV but here is an article. I don't know if they put the entire interview (video) on their website yet.

US Nears Fiscal Disaster: 'Washington Doing Nothing' - US Business News - CNBC

 

[nnuut]

There is a video about half way down the page!

 

[Warrenlm]

Bowles modified his risk percentage about the so called fiscal cliff. Awhile back he said there was a 50% chance "we will go over it" (oh how the media loves graphics). This time he said there was a 30% chance Congress would act before the end of the year, a 30% chance the Congress would act shortly after the end of the year and a 30% chance they would not act at all in a timely manner. Acting means to deal with, somehow, the impending end of the payroll tax cut and the end of the extensions of the Bush Tax Cuts. Not sure what gets a probability of the missing 10%. I took a positive that he now sees a 60% chance Congress will act. Maybe they deserve reelection.

 

[James48843]

That missing 10% ?

There is a ten percent chance that the Mayans were right, that the world is going to end on December 21, 2012, and that we don't have to worry about the fiscal cliff.


2012 phenomenon - Wikipedia, the free encyclopedia