Friday, December 14, 2012

Fiscal Cliff

The Fiscal Cliff is what will happen when the end of 2012 arrives and the Budget Control Act of 2011 are to go into effect. Over 1,000 government programs are to receive deep cuts. The term "cliff" is misleading because it provides the allusion of pass-fail results when in all reality it is a sudden disaster. With correct planning and compromise, the government will avoid recession. House Speaker John Boehner accuses the President of not wanting to cut spending. Republicans give general ideas of where spending would be cut but don't provide specifics. This is disastrous to solving the dilemma because we must be in accordance and agree with each other to truly avoid the full effect of the Fiscal Cliff.


http://bonds.about.com/od/Issues-in-the-News/a/What-Is-The-Fiscal-Cliff.htm

http://www.cbsnews.com/8301-250_162-57559106/where-are-the-gops-fiscal-cliff-spending-cuts/