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Fiscal cliff explained

7:25 AM, Nov 20, 2012   |    comments
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By USA TODAY

A raft of tax and spending changes scheduled to take effect in January will sharply reduce the federal budget deficit, but could also send the economy back into recession if they all happen at once.

Sound complicated?

USA Today's graphics department created the following explainer to help folks make sense of the financial fiasco facing the nation. Everything from spending cuts to tax hikes is included in this fiscal cliff graphic, as well as its specific affects on American families according to income.

To read more on the fiscal cliff, visit USA Today's special Fiscal Cliff page.

 







USA TODAY

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