Fiscal Cliff

By | December 4, 2012
Share the Knowledge...Share on Facebook0Tweet about this on Twitter0Share on Google+0Share on LinkedIn0Share on Reddit0Pin on Pinterest0Email this to someone

If you have picked up a newspaper or turned on the television to watch the news, you have more than likely heard about the impending “fiscal cliff” of doom. When I hear this term, I immediately imagine hopelessness–a point of no return…(much like the picture [below] suggests).

Fiscal Cliff

Ben Bernanke, chairman of the U.S. Federal Reserve, said, “…a massive fiscal cliff of large spending cuts and tax increases.” (Photo courtesy of Vantage Point of the One-Eyed Jack)

The term fiscal cliff became popular this past year when Ben Bernanke, chairman of the U.S. Federal Reserve, used it to describe laws on the books–coming into effect in 2013–as:

…a massive fiscal cliff of large spending cuts and tax increases.

But what is it?

For more on that, check out A Fiscal Cliff in History!

Author: Grant Oster

"To know the truth of history is to realize its ultimate myth and its inevitable ambiguity." I love all history; however, my favorite areas are World War II, Civil Rights Movement, and U.S. Constitutional history.

Leave a Reply