Many Americans must be wondering: What is all this about a "fiscal cliff"? And why did it receive so little attention during the presidential campaign? Well, it's complicated - the so-called cliff, that is. And most solutions are politically painful. In a rare show of bi partisanship, or mutual protection, both parties ducked the debate until after the election. What follows is an attempt to demystify the issue that President Barack Obama and the lame-duck Congress now are struggling over, and perhaps will occupy them right through the holidays. What is the fiscal cliff? The term refers to more than $500 billion in tax increases...
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