Cliff Notes: Can America Avert Another Economic Crisis?

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  • 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?
  • How Did We Get Here?
  • The Sit Down
  • Stalemate

Plan Big Fail

In an embarrassing setback, Boehner was unable to rally enough Republican support for his Plan B proposal to raise taxes on incomes of $1 million and above. He had hoped to use the measure as leverage to force Obama to increase his $400,000 income threshold, but instead Boehner was forced to cancel a planned vote on Plan B.

(Photo: AP Photo/J. Scott Applewhite)

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