Just Explain It: Why the Fiscal Cliff May Trigger a Recession

On December 31, 2012, a set of laws on government spending and taxes are set to expire. It will be a disaster as the combined amount of government and tax cuts will cost over 500 billion dollars, which is up to four percent of the nation’s total GDP. This situation is popularly known as the fiscal cliff. As the date nears, lawmakers in Washington still have not made any progress on what will happen next.

Read the full article here:
Just Explain It: Why the Fiscal Cliff May Trigger a Recession