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Fiscal cliff

3 bytes removed, 01:44, 5 January 2013
The "'''Fiscal cliff'''" is the combination of United States financial policy changes that will go into effect at the start of 2013. The [[Congressional Budget Office]] has predicted that if those policies are allowed to take effect, they will place the United States economy into a [[recession]]<ref name="nytrecession">{{cite news |title=Recession Possible if Impasse Persists, Budget Office Says |last=Calmes |first=Jackie |url=http://www.nytimes.com/2012/05/23/business/congressional-budget-office-warns-of-a-fiscal-cliff.html?_r=1&src=recg |date=May 22, 2012 |newspaper=The New York Times |accessdate=October 19, 2012}}</ref> a full implementation of the [[Cloward-Piven Strategy]] to "to overwhelm the system and bring about the fall of capitalism by overloading the government bureaucracy with impossible demands".<ref>American Thinker; [http://www.americanthinker.com/2008/09/barack_obama_and_the_strategy.html Barack Obama and the Strategy of Manufactured Crisis]</ref> On February 29, 2012, [[Ben Bernanke]] coined the term "fiscal cliff" in his testimony before the House Financial Services Committee.<ref name="Reuters-Bernanke-1202">{{cite web |title=Highlights: Bernanke's Q&A testimony to House panel |author=Washington newsroom |url=http://www.reuters.com/article/2012/02/29/us-usa-fed-bernanke-idUSTRE81S1DO20120229 |date=February 29, 2012 |publisher=Reuters |accessdate=October 19, 2012 }}</ref><ref name="CNBC120621">{{cite web|url=http://finance.yahoo.com/news/fiscal-cliff-may-europe-look-154128079.html |title= 'Fiscal Cliff' May Make Europe Look Like a Dip |first=Jeff |last=Cox | work=CNBC |date=June 21, 2012 |publisher=Yahoo! Finance}}</ref>
The policy elements of the fiscal cliff include:
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