A peek over the ‘cliff’s’ edge
With the Nov. 6 election yesterday’s news, the political story now dominating the headlines is the Dec. 31 deadline to avoid driving over the fiscal cliff.
So just what is the fiscal cliff, and what will happen to us if we go over it?
The short answer to the first question is that the fiscal cliff is a combination of federal budget cuts and tax increases that are set to automatically take effect Jan. 1 unless President Barack Obama and House Republicans can reach a compromise.
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