What is the Fiscal Cliff and how will it Impact on the US Economy? [ Infographic ]

Due to a combination of expiring tax cuts and new spending cuts,
if Congress does not act within the month we could be about to see
$607 billion of deficit reduction take place heading into 2013 –
more likely closer to $560 billion incorporating in the likely economic
feedback to such large changes. Simply put, a vast number of policy
changes are set to kick in approximately all at the same time.
What Is the Fiscal Cliff and How Will It Impact Our Economy?

by NerdWallet.Browse more infographics.

 

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