December 12th, 2012
05:44 PM ET
2 years ago

By the numbers: Fiscal cliff

(CNN) – Time is running out for congressional Republicans and President Barack Obama to strike a deal to avert the fiscal cliff. If the two parties can't come to an agreement before the end of the year, a combination of broad tax hikes and deep government spending cuts take effect . Experts warn of a new recession if Washington goes over the fiscal cliff.

Here's a by-the-numbers look at the fiscal cliff and its impact:

FULL STORY

Filed under: Fiscal Cliff
soundoff (6 Responses)
  1. Woman In California

    As much as I hate to see it happen, we ARE going over the cliff. Republicans don't care, as long as it hurts the president and they're also not concerned about the country as a whole in their attempt to seek revenge.

    Fasten your seat belts, it's gonna be a bumpy ride.

    December 12, 2012 05:52 pm at 5:52 pm |
  2. They ought to change from the elephant to the hippo...

    Dear Congress,

    You made the mess, YOU clean up the mess. You agreed to the consequences if YOU DIDN'T do your JOBS, which you obviously didn't. Deal with it. Or resign and we'll elect some folks who will.

    December 12, 2012 06:18 pm at 6:18 pm |
  3. J'Cincinnati'Redd

    The national debt,which is the result of our greedy grab for entitlement programs,will destroy us. Few people understand the debt or its devastating impact. Many politicians depend on this general lack of knowledge. I would like a plan that would base all entitlement programs on need and limit federal assistance to 15,000 per family. With that one action,we would save billions a year.we are nolonger a superpower.debt has upended us. Blaming the rich is a tierd song that to many broke and unproductive americans love to sing. They could of invested in the future through change and sacrifice,but the lived for the moment. They bought cars on credit. They mortgage and second mortgage there homes. The found ways not to create wealth but to produce debt with greed and fiscal irresponsibility. And now many of americans say just tax the rich, and all will end well. With that kind of thinking. Good luck!

    December 12, 2012 06:33 pm at 6:33 pm |
  4. CBR

    Email the Speaker to move toward an agreement with the President. Unless he receives millions of emails he will not believe that he is not following the will of the people.

    We are allowing politicians to make decisions which are detrimental to this nation. It appears as if Speaker Boehner is not willing to move forward. Most Americans realize that some money will need to be raised to help with the deficit. Those of us who can afford to pay more should do so. Mr. Boehner and other very wealthy members of Congress do not want to do so. Bottom line, the middle class will be the losers once agains. Even when we do express our desires those in control of the Congress will not follow our lead. I am not sure when Congress became the caretakers for us. In my opinion, they need caretakers just to keep them moving in the right direction.

    December 12, 2012 07:17 pm at 7:17 pm |
  5. Data Driven

    A mostly useful article, except you neglect to mention spending cuts offered by the White House, and you neglect to mention the vague claims of revenue increases that the GOPhers insist will happen with closing loopholes only. The article implies that White House ONLY wants revenue increases, while the GOPhers ONLY want spending cuts. Not true.

    Actually, I'm sure the GOPhers want entitlement spending cuts only, but that's not their stated position.

    December 12, 2012 08:11 pm at 8:11 pm |
  6. Thomas

    We should just go over this so called fiscal cliff to see what would happen. It's really no different than Pelosi's idea of passing Obama care to see what's in it.

    December 12, 2012 09:37 pm at 9:37 pm |