This year the circulating term for the crisis of the year award is "The Fiscal Cliff." What exactly is the fiscal cliff? Most people don't know except that it means ultimate doom and armageddon.
The fiscal cliff is not a real cliff. The term is just a political term for the end of the Bush tax cuts. These tax cuts have been in effect for many years and have slashed taxes for lower and upper class alike. However, the taxes are favored toward the upper class or top tax bracket. These individuals already had low tax rates and were reduced during the Bush era. Whether you beleive this or not based on your political opinion or belief in political history is not important. The cliff is only a cliff because the markets will collapse if nothing is done and tax rates spike.
Now the question is have we elected the proper "lawmakers" to deal with this challenge or will they fail once again at our cost?
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