Since we've been covering the legislative branch and the question about whether the current Congress is the worst ever, its past time I posted links to stories about the fiscal cliff. This refers to the automatic spending cuts and tax increases that are scheduled to occur at the end of the year if Congress does not actively work to stop it. They are projected to come back into session after the election is over in order to address it.
On the bright side, going off the cliff would trim the deficit considerable, but at the cost of sending the country back into a recession. Spending cuts and tax increases would tighten the amount of money flowing in the economy. Passing laws preventing this requires a degree of cooperation that seems beyond the capacity of Congress at the moment.
Some useful links:
- What is the fiscal cliff?
- Must avoid fiscal cliff or will slip back into recession.
- Group of Eight Senators Meets to Work on Fiscal Cliff Plan.
