Nov
14
2012

Fiscal Cliff Not a Cliff? Tell That to USA Today

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Some commentators and journalists have pointed out the metaphor for the impending tax increases and spending cuts in 2013–the "fiscal cliff"–is highly misleading, and probably intentionally so. There is no way to reverse course when you fall off a cliff; you are plummeting towards the ground, making a terrible mess upon impact. Thus the brakes must be applied before the end of the year. In reality, this isn't true; Congress and the White House can actually go past the "cliff" deadline, and strike a deal early next year, without the supposedly dire consequences. The numbers thrown around in the press […]