It's simply a term to refer to the proposal the President made in 2010 that the congress agreed to after the failure of the dog and pony show called the super committee. The taxs cuts from the 2002 EGTRRA act will expire and numerous spending cuts will automatically take place. The cuts are substantial enough along with substantial enough tax increases that many economist expect the fiscal drag to produce an immediate recession. Since the US is already bordering on another recession, this could potentially worsen the problem.
by John Coviello5 years ago
Who Is Responsible For Lack of Fiscal Cliff Action?Since the Congress passes laws and the President just signs them, shouldn't Congress pass a law that averts the fiscal cliff and put the onus on the President to either...
by Gemini Fox5 years ago
http://www.youtube.com/watch?v=kTxY-oZu … r_embedded
by Judy Specht5 years ago
Why aren't the fiscal cliff talks on C-Span?The economy is of top importance to everyone. Why are we letting these talks go on behind close doors with a few supposed leaders of our country? Hello even if you taxed...
by Catherine Tally5 years ago
Is the approaching "Fiscal Cliff" going to prompt you to make changes in your investment strategy?
by Michele Travis5 years ago
Obama want's to cut military funding= BadGOP won't raise taxes on the very rich= BadWill anyone agree about anything that will actually help the American people..No= BadThe GOP will not work with Obama no matter...
by Charles James5 years ago
Well, we have survived Sandy and the 1st Blizzard of the season. In addition we have passed GO for Obama 2.0. In the slowly deflating wake of the housing crisis, bank bailout and steroid injection, the States now face...
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