The Fiscal Cliff

What is the “fiscal cliff?”  It is a term first used by Federal Reserve Chairman Ben Bernanke to describe the impact on the economy of about $502 billion in expiring tax cuts and spending reductions, both separately set to occur within a two-day time frame at the end of the year. Bernanke warned that if Congress fails to deal with the issues, the fragile economic recovery could be dashed.  This McClatchy Tribune One Page takes a look at the “fiscal cliff” and the impact it would have on the U.S. economy.

Download the page by clicking on the following link:  http://legacy.grandforksherald.com/pdfs/20121119_FISCALCLIFF.pdf

Note: if you are going to print this pdf, make sure to adjust your print setting to fit on page. The pdf is bigger than 8.5 x 11 (normal print size.)

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