Cliff Notes: Can America Avert Another Economic Crisis?

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  • 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?
  • 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?

Why Won't Lawmakers Just Make a Deal?

Republicans insist that the temporary tax cuts made during the George W. Bush administration be made permanent and that cuts be made to Medicare, Medicaid and discretionary domestic programs. Democrats want to combine higher taxes on top earners with spending cuts.

(Photo: Scott Olson/Getty Images)


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