What is the 'fiscal cliff?'

Published On: Nov 09 2012 11:50:09 AM EST   Updated On: Dec 31 2012 08:28:08 AM EST

Confused by all this talk of a "fiscal cliff" and what it means to you? As lawmakers in Washington try to beat tonight's deadline, here are some answers.

10 / 17

What's in the cuts? -- An estimated $55 billion will be cut in 2013 from projected levels of discretionary defense spending. That translates into at least a 10 percent cut to every program, project and activity that's not explicitly exempt.

Comments

The views expressed are not those of this company or its affiliated companies. Please note by clicking on "Post" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms.

blog comments powered by Disqus