Fiscal cliff

The term fiscal cliff has been used in the past to refer to various fiscal issues. Are we going over the fiscal cliff? If Congress hadn’t taken action in time, taxes would have increased and government spending would have been drastically reduced in one day.

The country is fast approaching the fiscal cliff. COBUILD Advanced English Dictionary. The fiscal cliff is a term used to describe a bundle of momentous U.

The now infamous phrase was coined by Federal Reserve Chairman Ben Bernanke in. Some municipalities are on the edge of a fiscal cliff after years of overspending. Oxford Dictionaries as A situation in which a particular set of financial factors cause or threaten sudden and severe economic decline.

If all of these changes take place as schedule they will almost certainly push the economy back into recession. What does fiscal cliff mean? Bush expire as scheduled.

Instead we got a deal with modest tax increases, tiny spending cuts, and some $64. Here are things to know about the measure. How would the fiscal cliff affect the deficit?

The CBO estimates that the. Burning the midnight oil on Capitol Hill, a minority of House Republicans teams up with most Democrats to give fiscal-cliff legislation a push across the finish line, averting tax hikes for. A Republican Senate is pretty much an iron-clad guarantee of the return of fiscal cliffs and government shutdowns and hostage-taking and all the rest of the budgetary games Republicans are known for playing. At that time, both federal spending would be reduced and tax cuts would expire, which experts feared would harm the already-fragile US economy by taking a great deal of money out of circulation.

Burns takes a few minutes to explain the upcoming fiscal cliff. Subscribe now for more The Simpsons. A deal on the Fiscal Cliff is not the end of the controversy, it is just the beginning.

Years of tough choices lie ahead for us, many Fiscal Cliff deadlines will come and go, each with devastating consequences for the American public and world economies. The phrase “ Fiscal Cliff ” will be used universally throughout history. It comes down to the government overborrowing and overspending and not taxing the way some people want it taxe or not raising revenue or not stimulating the economy and so on.

The Fiscal Cliff Deal and Small-Business Job Creation While the political compromise in Washington might have been an overall plus for the U. Nine out of ten small business owners are concerned about the impact of the fiscal. The name evokes imagery of falling over a cliff. That’s appropriate, as the economy was figuratively teetering on the edge of a cliff.

Congress acts to change them. Of course, the cost effectiveness varies greatly among different policies. The fiscal cliff describes a series of U. How American CEOs’ push for a fiscal deal paid off: It’s not about NASCAR or Hollywood.

Fiscal cliff blamed for Americans cutting back on holiday shopping online.