The US fiscal cliff refers to the effect of a series of enacted legislation which if unchanged will result in tax increases spending cuts and a corresponding reduction in the budget deficit. Ben Bernanke the chairman of the Federal Reserve who is not known for catchy phrases coined the metaphor fiscal cliff last winter to warn of the dangerous yet avoidable drop-off ahead in the.
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Romney for his part enhanced the presidents populist strategy by campaigning on the same.
What is us fiscal cliff actually. The US fiscal cliff refers to the effect of a series of enacted legislation which if unchanged will result in tax increases spending cuts and a corresponding reduction in the budget deficit. Rather the fiscal cliff is really more of a hillwe wouldnt all wake up on Jan. If Congress hadnt taken action in time taxes would have increased and government spending would have been drastically reduced in one day.
The Fiscal Cliff is referring to all the increases that are coming to the US Tax Law system on January 1 2013 and how it will negatively affect the economy. So exactly what is the fiscal cliff and why is everyone so worried about it. For the last decade the US government has been spending more than it receives in revenue creating an annual deficit.
The phrase fiscal cliff is now part of the American lexicon describing the looming deadline when tax cuts expire and spending cuts kick in. Now that the US election is over attention has turned to the dangers of the so-called fiscal cliff. Lots of drama right now about the fiscal cliff but.
1 to a new jobs crisis and immediate recession. It is impossible for the governments to repay their debt. What is the fiscal cliff.
The glaring problem being what the central banks will try next in order to stimulate growth. What is Americas fiscal cliff and why does it matter. This term has become a popular way to describe the abrupt changes expected in the beginning of 2013 due to the expiration of Bush-era tax cuts and the mandatory cut of several areas of government spendingThe NY Times does a great job explaining it here.
Why cant Congress and the president strike a deal. At its core this economic event destined to dominate our lives for the foreseeable future is an accident of timing. For the first time since the 1960s a Democratic incumbent ran a campaign to raise taxes on the monied elite against an opponent the Republican quarter-billionaire Mitt Romney who embodied the interests and attitudes of the monied elite.
The 2012 race for the American presidency was about class. The American government has been borrowing money like crazy for years and years never even really attempting to pay it back. But where did the term come from and is the image a helpful compare viagra prices one.
It all seems as if the market sentiment is becoming more pessimistic about a recovery. The US has been a deficit spender for the last 200 years. With Obama retaining the presidency it sends the signal that its US government policies will pretty much stay the same as previous 4 years.
Many believe that all of these increases to the Tax Law will substantially slow down economic growth in this country. The fiscal cliff refers to a combination of expiring tax cuts and across-the-board government spending cuts that was scheduled to become effective Dec. Is America really heading off a cliff.
What is the fiscal cliff. The US fiscal cliff refers to the effect of a series of enacted legislation which if unchanged will result in tax increases spending cuts and a corresponding reduction in the budget deficit. Get the lowdown with our handy primer Join the Guardians ongoing fiscal cliff coverage.
The provisions would affect the economy over months. With Obama retaining the presidency it sends the signal that its US government policies will pretty much stay the same as previous 4 years. Economically speaking there are reasons theres a s0-called fiscal cliff.
With Obama retaining the presidency it sends the signal that its US government policies will pretty much stay the same as previous 4 years. The fiscal cliff is a combination of five tax increases and two spending cuts that were scheduled to occur on January 1 2013. US President Barack Obama faces perhaps his biggest domestic challenge so far the US fiscal cliff.
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