Fiscal Cliff Explained – Infographic

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Fiscal cliff is a term used to refer to the economic effects that could result from tax increases, spending cuts and a corresponding reduction in the US budget deficit beginning in 2013 if existing laws are not changed by the end of 2012.

If Congress and President Obama do not act to avert this perfect storm of legislative changes, America will, in the media’s terms, “fall over the cliff.” Among other things, it will mean a tax increase the size of which has not been seen by Americans in 60 years.

Here’s an interesting infographic explaining the Fiscal Cliff in detail.

 Fiscal Cliff Explained
Infographic – Fiscal Cliff Explained. Image credit-
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