Your Easy-to-Use Guide to the Fiscal Cliff
By The Fiscal Times Dec 01, 2012 10:00 am
Have questions about the fiscal cliff negotiations? This chart succinctly describes the main points.
It’s easy to get confused by where negotiations stand on the fiscal cliff.House Speaker John Boehner says he’s “optimistic” one day, only to be “disappointed” the next by the lack of progress. President Obama talks about the need to act immediately, yet the federal government is still lurching toward a disastrous mishmash of tax hikes and slashed spending next year.
The fiscal cliff totals more than $600 billion and threatens to plunge the country into recession, according to the Congressional Budget Office. As of the last week of November, much of what we know about the talks comes from government officials speaking to reporters anonymously, past budget proposals, and press briefings. To help you sort out the difference between what politicians say and what they mean on this issue, The Fiscal Times has put together this simple guide.
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