Search
 

How Fiscal Cliff Shapes Up After Election

The fiscal cliff is a reality that will take on different shapes with the outcome of the U.S. election.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

The fiscal cliff looms large. It should. Unless Washington does something, 2013 will face a sudden and automatic fiscal restraint. The shock would almost certainly drive this economy’s already enfeebled recovery into recession. It is a frightening prospect, to be sure, but, still, likelihoods suggest that even this Congress will steer clear such a cliff.

Warnings on this matter have emerged through several channels. Federal Reserve Board Chairman Ben Bernanke, at last summer’s testimony on monetary policy, forcefully called Congress’ attention to the impending problems and, incidentally, coined the phrase “fiscal cliff.” The Congressional Budget Office (CBO) followed up with a full analysis, concluding that, if something is not done, restrictive automatic fiscal measures in 2013 could exceed $800 billion and force this economy into at least two quarters of decline. And though there is always room to cavil, surely the CBO’s analysis and conclusions are reasonable. Severe problems are built into law on both the spending and on the revenue sides of the federal budget.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

Trending Stories

 

Recommended Stories

Navigating the Inflation Headache

Navigating the Inflation Headache

Jason Celente |

Inflation has emerged as one of the key concerns of business leaders. Grappling with rising prices may require innovations in cash management.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.