Cliff Notes: Can America Avert Another Economic Crisis?

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  • Blame Game
  • What Is a Fiscal Cliff?
  • How Did We Get Here?
  • The Sit Down
  • Stalemate
  • Home Alone
  • Times a' Ticking
  • Plan Big Fail
  • How Large Would the Tax Increases Be?
  • What Does This Mean to My Wallet?
  • Will Other Taxes Rise?
  • What Kinds of Spending Cuts Will Be Made?
  • How Will Cuts Impact Entitlement Programs?
  • Are Any Programs Exempt From Automatic Cuts?
  • What Will Be the Impact on the Economy?
  • Why Won't Lawmakers Just Make a Deal?
  • What Happens If There's No Deal by Dec. 31?

Blame Game

Capitol Hill lawmakers seem to have a thing for suspense. As with last year's battle to raise the nation's debt limit, they will not vote on a package to avert the looming fiscal cliff until the 11th hour — if they're actually able to reach a deal at all, that is. Republicans continue to oppose the tax hikes that President Obama and Democrats are demanding. As Americans wait, watch and worry about their own pocketbooks, here's the who, what and why of what's going on. — Joyce Jones

(Photo: Alex Wong/Getty Images)

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