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Political Science
POL 111
David Caputo

Heather BrownPOL 1111 What is the fiscal cliff and what is its importance How can it be avoidedThe Fiscal Cliff is the effect of a number of laws which if unchanged would result in tax increases spending cuts a raise in the national deficit a raise in the debt ceiling and moreMany of these laws expire at the end of the calendar year and if nothing is done to change the results of these expirations there could be drastic repercussionsThere is a chance that some of the current members of Congress could hold out on making a decision knowing their term is up in January or they could continue to work until then trying to compromise with the rest of the members and pass a piece of legislation with a solution to prevent going off the cliff Unfortunately this election was not helpful to Congress reaching agreements Laws that are in effect now that are leading to the fiscal cliff include the Bush tax cuts already extended by President Obama will expire causing higher taxes afterwardThe FICA deal of a two percent Social Security payroll tax cut is due to expire meaning a consequence of less money in peoples pockets The estate laws change meaning heirs with real estate in their inheritance will not go to themIn essence the debt ceiling may have to be raised to prevent these damagesThey could also sequester a new budget to control government spending and controlling what programs get what percentage of taxpayers money2 Clearly the legislative branch remains dominant even today when compared to the executive branch Agree or disagree with the statement This statement is acknowledging
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