Cliff Notes: Can America Avert Another Economic Crisis?

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  • 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
  • What Is a Fiscal Cliff?


In a Dec. 27 conference call with Republicans, House Speaker John Boehner stood firm on his position that the Senate should amend bills already passed in the House that would avert the fiscal cliff, ABC News reports. Senate Majority Leader Harry Reid called for the House to support a bill already passed by the Senate. Obama reportedly planned to send a scaled-back proposal to Congress to avert some ledges on the fiscal cliff, such as middle-income tax hikes.

(Photos from left: Alex Wong/Getty Images, Kent Nishimura-Pool/Getty Images, Alex Wong/Getty Images)

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