Fiscal Cliff

[Hanz_Blitz]

I don't live in Merica but could somebody give me a run down on all the fuss?

 

[WorldofWarcraft]

We spend more than we take in.. it's gotta give sometime. That's why you stock on guns, ammo, food, water, tools.

 

[Hanz_Blitz]

So why would the world fall into terrible debt if you just started spending based on exports?

 

[Yompton]

Direct yourself to the war room.

 

[Xion385]

War Room has all the answers.

 

[wenispinkle]

It was a term coined by Bernanke for a bunch of automatic spending cuts and tax increases that we imposed on ourselves if we didn't have our budget deficit problem under control by January 2013.

It's a big deal because if we don't do anything (like raise the debt ceiling or extend some of the Bush tax cuts) it'll send us back into recession.

 

[Hanz_Blitz]

Sorry for posting in Mayberry, if any mods wanna move the thread that'd be awesome

 

[TeTe]

Well you see, the term is a scare tactic. If anything we went over it four years ago.

Basically, if we don't do anything, everyone's taxes will go up.

 

[Sir Galahad]

President Obama is trying hard to get America back on track.