Poll: How can U.S. best avoid falling off fiscal cliff?
If Congress doesn't find another way of shrinking the budget deficit, the country faces a "fiscal cliff" of automatic federal spending cuts and the expiration of tax breaks. Credit: iStock
Are you worried about falling off the fiscal cliff? That's a term for the automatic federal spending cuts, and the expiration of tax breaks, that will jolt the economy at the start of 2013 if Congress doesn't address the problem.
Economists have said that the sudden hit to the economy, valued at $728 billion according to a Moody's Analytics report, would be strong enough to send the country into another recession.
What's the best way to prevent the looming fiscal cliff? Vote and leave a comment. Poll results and a selection of reader comments will appear in next Sunday's business section.
Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
