September 20, 2012
by Jacob Goldstein and Lam Thuy Vo
For more, see this story from NPR’s Marilyn Geewax on how Congress might pass some stopgap measures to blunt the effect of the fiscal cliff.
A bunch of federal tax increases and spending cuts are scheduled to kick in around Jan. 1, 2013. This is what people are talking about when they talk about the “fiscal cliff.”
If recent experience is any guide, things will probably start to get crazy as the deadline approaches, and Congress will move at the last minute to block some of the tax increases and spending cuts.
Before things get crazy, let’s take a quick look at the numbers for fiscal year 2013. Continue reading “The Fiscal Cliff, In Three And A Half Graphics”