A few months ago, I listened as a young teenager stood near me in the grocery checkout line and asked her dad, “What is the ‘fiscal cliff’ anyway . . . I thought we approached the cliff in autumn of 2008,” she said.
I remember quietly thinking it a really good question. I was curious about factors that would trigger into play, should a fiscal cliff come into play as a result of our dysfunctional Congress not acting in a responsible way.
This morning I learned CBS News Money Watch posted a report by Jill Schlesinger titled, “What is the Fiscal Cliff?” This Q&A answers some of the more critical points of how much continued inaction by Congress will affect your taxes. In addition the article answers the following.
- Where will the spending cuts occur?
- Will Medicare be cut?
- What programs will NOT be cut?
- How would the fiscal cliff affect the economy?
- How would the fiscal cliff affect the deficit?
- What if Congress delays the fiscal cliff?
- Where do the parties stand?
The article addresses whether Congress is likely to act and avoid the January 1st deadline for avoiding the cliff. It was interesting and informative. For those interested in numbers and facts surrounding this important topic The article can be accessed via: “What is the Fiscal Cliff?”
One thing for certain, we need Congress to put COUNTRY FIRST, and their special interest funded political parties last!
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