What Fiscal Cliff?

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October 22, 2012 in Infographics

 

Another great chart from Blog of the Century‘s Benjamin Landy, who, deflating the doomsday language about Congress driving off an economic cliff, writes:

Originally called “taxmageddon,” it is revealing that policymakers and journalists eventually settled on the less apocalyptic “fiscal cliff” to describe the $607 billion of tax cuts and stimulus spending scheduled to expire at the end of the year. The image of a cliff—literally something that you either fall off or walk away from—is oddly appropriate for Washington, where Republican obstructionism has made it increasingly likely that Congress will kick the can down the road rather than take the plunge and negotiate a timely compromise.

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