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Local expert: "We're going over the fiscal cliff."

10:55 PM, Dec 28, 2012   |    comments
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By Grant Bissell

ST. LOUIS (KSDK) - There is a sense of urgency in Washington, D.C. this weekend.

President Obama addressed the nation Friday night on progress toward avoiding the fiscal cliff. While the president says lawmakers are making progress, a deal has still not been reached.

If Congress doesn't make a move by the end of the year massive program cuts and tax increases will go into effect.

A local financial expert says the country is going over the fiscal cliff. She says it's just a matter of how hard we will land.

"We're going down, but it's not off a cliff. It's more of a slalom. We're going to go back and forth," said Juli Niemann of Smith, Moore & Company. "We definitely are going to see the expiration of the Bush tax cuts. The question is will the middle class still get to keep theirs and what would the income limits be?"

Niemann believes lawmakers will make a last-minute deal that will get the country over the hump. But she says there will still be lots of work to do on the major issues.

KSDK

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