A Brief Primer on the Fiscal Cliff

The “fiscal cliff,” as it is known in Washington, remains poorly understood outside Washington, because it is technical and political and unrelated to adultery. But it’s important, because unless President Obama and Congress can work out a deal to avoid the cliff by January 1, the U.S. could plunge into a recession. Here are …

$1.6 trillion

— The amount of revenue President Obama is seeking to raise by taxing corporations and the wealthiest Americans, according to a report in the Washington Post.
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