Fiscal Cliff Amounts to Dual Economic Threat

Nicholas Mangee


Only 21 days left until the U.S. turns into a fiscal pumpkin at the stroke of midnight, and the media is still bombarding the American public at every turn. Yet, a recent Business Insider Poll showed that by a wide margin, 47 percent versus 12 percent, Americans believe a full-on fiscal cliff would actually increase the deficit rather than decrease it. What? In the spirit of providing clarity on this apparently misunderstood issue, the so-called fiscal cliff amounts to the dual threat of automatic across the board cuts to federal spending and tax increases, enough to dip the economy back into recession in 2013...