Here Comes The Fiscal Cliff

Fiscal cliff is the popular shorthand term used to describe the conundrum that the U.S. government will face at the end of 2012, when the terms of the Budget Control Act of 2011 are scheduled to go into effect. Congressman, Ron Kind, says it baffles him a deal has not been reached.

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If nothing is passed, tax increases on most working Americans and automatic spending cuts kicking in next month.

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