What Happens If We Go Over the Cliff?

America is swiftly approaching the fiscal cliff. President Obama and congressional leaders have talked for weeks with varying degrees of frequency and success at compromising, and one precept resonates throughout the public statements of politicians and economists: the so-called "fiscal cliff" would be a very bad thing. But what actually happens if Washington takes us over it? As has been well documented, the "cliff" is not one thing, but a ball of expiring economic provisions that lead to...Full Story