The deficit in 2013 under the cliff deal: A steep 6.1 percent of GDP.
FORBES: The Bottom Line: What the Fiscal Cliff Deal Really Means for Taxes and Spending
Melanie Hicken, More savers can convert to Roth 401(k)s under fiscal cliff deal, CNN Money, Jan. 4, 2013.
FORBES: More Estate Tax Changes Could Follow Fiscal Cliff Deal
Under the cliff agreement, in 2017 spending falls to 21.5 percent of GDP, while revenues rise to about 19 percent for a deficit of about 2.5 percent of GDP, which is not too bad.
FORBES: The Bottom Line: What the Fiscal Cliff Deal Really Means for Taxes and Spending
So Towers Perrin came up with the clever idea of having Enron buy the contracts, providing the Lays with immediate liquidity, and hold them as deferred compensation for Mr. Lay with the idea that they would be transferred back in the future under a cliff vesting schedule.
He said under the fiscal cliff, taxes on capital gains and dividends are set to rise.
FORBES: FOCUS: Stocks Fall, U.S. Dollar Rises Following U.S. Election, European Worries
Wealthy or not, your taxes will increase under the fiscal cliff deal that politicians struck.
FORBES: Fiscal Cliff: Prepare For A Smaller Paycheck. Your Taxes Will Indeed Rise
The road to the huts on Monmouth Beach under the crumbling cliff edge has been closed off indefinitely after a large fall on Tuesday evening.
There are two sand beaches, one directly on the town frontage and the other, a little cove tucked under a towering cliff, reached by a narrow path.
Senate Democrats believe the White House had far more leverage at the end of 2012, when Republicans were eager to avoid across-the-board tax increases under what was called the fiscal cliff.
Under the looming threat of the fiscal cliff, lawyers worked overtime during the holiday season to set up trusts and fund them with gifts that made maximum use of the tax-free amount.
FORBES: Finally, Estate Planners Can Read The Tax Code -- Not The Tea Leaves
The grab-bag of special tax favors under the guise of the recent fiscal-cliff deal is only the latest example.
WSJ: Canada, Druckenmiller and Warsh: Generational Theft Needs to Be Arrested
In short, the fiscal cliff means an automatic end to the tax cuts put in place under George W., and automatic across-the-board cuts to the government budget, as promised in the August 2011 debt ceiling compromise.
For my administration, it meant a series of emergency measures that I would not have undertaken under normal circumstances, but that were necessary to stop our economy from falling off a cliff.
WHITEHOUSE: President Obama Addresses U.S. Chamber of Commerce
If the U.S. continues to hurtle toward the fiscal cliff and shows signs of falling over, that could be a factor helping push crude oil under that triangle support line.
While addressing part of the fiscal cliff, the Boehner plan B would leave intact government spending cuts, including defense, that are required under a budget deal reached last year to raise the federal debt ceiling.
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