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Congress needs to start talking about ways to deal with the looming fiscal cliff now, or risk...

Congress needs to start talking about ways to deal with the looming fiscal cliff now, or risk nothing getting done to avert disaster, according to Honeywell (HON) CEO David Cote. “Unless this gets discussed in the presidential election," Cote says, "there’s a good chance it doesn’t get resolved at all.”
Comments (12)
  • Jeremy Johnson, CFA
    , contributor
    Comments (778) | Send Message
     
    Nope, we're too worried about Romney's millions to worry about the economy's trillions.
    17 Jul 2012, 07:15 PM Reply Like
  • kmi
    , contributor
    Comments (3979) | Send Message
     
    Romney's tax returns = Obama's birth certificate. Welcome to Politics, USA.
    17 Jul 2012, 07:27 PM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    Forget his birth certificate. I lived in Hawaii a long time and all the Polynesians bought them in the late 50s and early 60s! Easy as pie,but, Romney's only hope is a Social Security investigator !

     

    Obama is only 50 but his SS # is over a 100.. She has tried getting the Connecticut records ,but, Justice Department blocked her request ! Obama had never been to that state until he was a politoco.And, his sister has a Hawaii SS #/

     

    Romney's only chance is if the women can get on the Ohio ballot ! She is collecting signatures and if she gets on the ballot she has standing and the records are hers. Obama's number sequence is twice his age. Gotta hope she gets enough signers !
    17 Jul 2012, 07:58 PM Reply Like
  • montanamark
    , contributor
    Comments (1434) | Send Message
     
    hard to have respect for people who talk around the edges. i hear 100 times a day on cnbc that the problem is "congress." however none of them say who in congress - republicans? democrats? do these talking heads want more spending or spending cuts - just spit it out - dont be pc and complain about a faceless, nameless body. none of them ever mention obama even though he is the president and supposed leader.
    17 Jul 2012, 07:21 PM Reply Like
  • Tack
    , contributor
    Comments (12721) | Send Message
     
    This will get resolved, but it won't happen until after elections, when both sides will know the strength of their respective positions, thereby dictating what concessions, if any, will be required. So, we can already expect all the same volatility, as accompanied the 2011 debt-ceiling debates, complete with forecasts of doom.

     

    But, like the debt ceiling, a political accommodation will be reached.
    17 Jul 2012, 07:24 PM Reply Like
  • DaLatin
    , contributor
    Comments (1522) | Send Message
     
    Obama wants this ! He will use leverage after he wins to beat the tax hike out of the Republicans ! Earnst & Young non partisan report out today slams tax on 250K and above. Kills 750K jobs and reduces salaries on many million more ! He wants this and Romney has about as good a chance as Ross Perot !

     

    Don't forget capital gains hike and it's effects on stock prices !
    17 Jul 2012, 07:28 PM Reply Like
  • kmi
    , contributor
    Comments (3979) | Send Message
     
    HON = big loser from the mandatory defense cuts, obviously concerned.

     

    I suspect both sides will use the issue as a stick to beat the other with, and the fact that the cliff comes after the election really promotes that.
    17 Jul 2012, 07:29 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Don't forget their presence in construction...they stand to be hit from multiple sides.
    17 Jul 2012, 07:47 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    It won't get resolved at all.
    17 Jul 2012, 07:56 PM Reply Like
  • untrusting investor
    , contributor
    Comments (9923) | Send Message
     
    Highly doubt the fiscal cliff issues will get resolved, but they might get kicked down the road again at the last minute.
    17 Jul 2012, 10:11 PM Reply Like
  • davidbdc
    , contributor
    Comments (3141) | Send Message
     
    The fiscal cliff will be replaced by the government avalanche which will be replaced by the state's black hole which will be replaced by the European Bailout.

     

    Eventually it will crash and burn. Unfortunately we don't have anyone running with the guts to rein in the spending.
    18 Jul 2012, 01:58 AM Reply Like
  • Josh ODonnell
    , contributor
    Comments (229) | Send Message
     
    Dont worry...the debt bubble will pop..and the new great depression will set in..

     

    and there's nothing anybody can do about it. Credit expansion will cease to exist at some point in the next 5 years.
    18 Jul 2012, 02:48 AM Reply Like
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