Fiscal Cliff

The phrase is often credited to Ben Bernanke, but variations of it have been around for decades.  The “Fiscal Cliff” that went largely unmentioned during the campaign now dominates the talk out of Washington.  It is probably the most important thing that will happen in the next Congress, and it will certainly set the tone for the end of the Obama administration.  Yet almost no one has taken the time to explain what’s at stake in plain language.

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