The fiscal cliff is a term used to describe a bundle of momentous us federal tax increases and spending cuts that are due to take effect at the end of 2012 and early 2013 in total, the . The fiscal cliff was a point in time (jan 1, 2013) that if congress did not do anything legislatively, we would have seen automatic spending cuts (eg military budget) and tax increases (eg expiration of bush tax cuts) go into effect. It’s the phrase that will be dominating the airwaves in the days and months to come as the pundits and prognosticators leave the 2012 election behind and turn their attention to dire predictions . In the united states, the fiscal cliff is a term used to refer to the economic effects that could result from tax increases, spending cuts and a corresponding reduction in the us budget deficit beginning in 2013 if existing laws are not changed by the end of 2012 the deficit—the difference between what the government takes in and what it .
With the fiscal cliff rapidly approaching, questioning authority spoke with james hartley, professor of economics, about the economic decisions upon which president obama and house speaker john boehner must agree. New york (cnnmoney) -- if lawmakers cannot agree on how to address the pending fiscal cliff, $7 trillion worth of tax increases and spending cuts will begin to go into effect in january the . Everyone seems to be talking about the “fiscal cliff” lately but many people only have a general idea what it entails, why it is occurring, and the impact busin. The fiscal cliff looms, and unless action is taken, the us will pay the consequences here are steps congress must take to avert a financial crisis.
The fiscal cliff could have profound implications on the economy dick and eric examine the potential impact on retirees and how annuities might be utilized during this time. The united states fiscal cliff was a situation that took place in january 2013 when several previously-enacted laws came into effect simultaneously, . If the nation goes over the fiscal cliff, budget cuts of 8 percent or 9 percent would hit most of the federal government, touching all sorts of things from agriculture to law enforcement and the . Fiscal cliff news and opinion dear colleagues, i know it looks just terrible for us right now our caucus is badly split, we are getting killed in the polls, we have had to drop the demand to .
Fiscal cliff refers to the coinciding action of tax increases and spending cuts that will activate on jan 1, 2013 unless congress and the white house agree and take some action to either delay or . If the fiscal cliff hits us (and there’s a good possibility that many of the taxes will, including payroll taxes and obamacare taxes), the economy will slow down how much the economy slows down depends on which taxes are allowed to increase, and which ones are not. The fiscal cliff strikes fear in the hearts of consumers it is defined as the elimination of tax cuts and decrease in spending by the government.
What is the fiscal cliff the combination of tax increases and spending cuts, that are scheduled to go into effect january 2013 which taxes are going up. The fiscal cliff starts to take effect in january and includes $7 trillion worth of tax increases and spending cuts it would slash the deficit dramatically, but not in a good way the abrupt . The phrase fiscal cliff is a new way of describing the effects of current laws that will result in tax hikes and spending cuts none of this is guaranteed to happen, but it will happen unless .
Debate over the fiscal cliff is a dominant issue in washington however, according to recent research 42% of americans do not fully understand the consequences of the tax and spending measures . Faux crisis why the fiscal cliff is a snooze the debt ceiling kept us enthralled, but this is a faux crisis—so we’re all tuning out, says howard kurtz. We come across the term “cliff” in physical geography while reading about various landforms a cliff is a significant vertical, or near vertical, rock exposure, which is formed by processes of erosion and weathering tall cliffs around the worlds are ideal locations for those who wish to end .
The fiscal cliff is a combination of automatic spending cuts and tax hikes that are scheduled to go into effect at the end of 2012 and the beginning of 2013. The us economy is currently two-for-two in its attempts to skirt recession 2013 the first came after we narrowly avoided a tumble over the fiscal cliff with a down-to-the-wire deal on new year . Definition of fiscal cliff: the name given to the series of tax and spending cuts set to expire at the start of 2013 that would have drastically reduced. There has been much talk about the fiscal cliff what is the fiscal cliff and how much of a danger is it these questions and more may best be summed up in a simple question and answer format.
The fiscal cliff is a combination of five tax increases and two spending cuts that were scheduled to occur on january 1, 2013 if congress hadn’t taken action in time, taxes would have increased and government spending would have been drastically reduced in one day the congressional budget . The fiscal cliff will solve it, ugly and painful as it may be this pain is coming to the country, whether is is over 50 years, or 50 days and the brutal truth is that it will not impact everyone the same way. Many americans must be wondering: what is all this about a “fiscal cliff”and why did it receive so little attention during the presidential campaign well, it’s complicated — the so . The fiscal cliff is a term coined by federal reserve chairman ben bernanke to describe a set of laws expiring december 31, 2012 that will result in major spending cuts and tax increases that will .