Obama vs. Romney: How they'd handle the $7 trillion fiscal cliff
September 26th, 2012
07:49 AM ET
10 years ago

Obama vs. Romney: How they'd handle the $7 trillion fiscal cliff

New York (CNNMoney) - It's one of the biggest decisions facing Congress: what to do about the fiscal cliff - the $7 trillion worth of tax increases and spending cuts that start taking effect next year.

Two major sticking points: whether to extend some or all of the Bush tax cuts and and how to replace the nearly $1 trillion in spending cuts.


Filed under: 2012 • CNNMoney.com • Congress • Debt • Deficit
soundoff (6 Responses)
  1. MaryM

    First of all, that fiscal cliff is congress' responsibility. That is why the we have the sequestration.

    September 26, 2012 07:58 am at 7:58 am |
  2. Gurgyl

    Raise tax on those who make 250k or more and cut defense.....

    September 26, 2012 08:01 am at 8:01 am |
  3. Surfer George

    Keep Middle Class tax cuts, cut spending on war toys oil subsidies, corn and other food subsidies, drug grants.
    We cannot, at all times, in all circumstances pay Big Business a MASSIVE profit on their investment in lobbyists.

    September 26, 2012 08:52 am at 8:52 am |
  4. GI Joe

    Extend for low-earners, let it go for the highest earners.

    How many jobs would the Caymen/Bermuda/Switzerland money create if brought back here and put to work? Why is Romney so Un-American. He does NOthing for this country - only himself and mormons.

    September 26, 2012 09:21 am at 9:21 am |
  5. demwit

    TAX THE RICH UNTIL THERE ARE NO MORE RICH! Like Greece and France,.., YEAH! That's the ticket!!

    September 26, 2012 09:24 am at 9:24 am |
  6. Pete

    The president will honestly try to explain about the deficet handling and Romney,he'll give details when he gets elected that's his maniacal stance and he's sticking to it..The arrogent Mormon moron doesn't give details,he did at Clintons gathering but people there saw a candidate wanting cheap labor abroad making products cheaper for American consumption in exchange for foriegn aid,sounds like his investments in Chinese sweatshops again don't it!!That's why hes failing at the polls lately,they see the dirty corporate side of him,the Bain side that kills jobs and dreams here doing more of the same if elected,the outsourcing with Romney as president will be an all time high and republicans know it..His corporate backers want it and they know it and without Romney it won't get done!!

    September 26, 2012 09:33 am at 9:33 am |