What is wrong with the "Fiscal Cliff"? Issues Beyond Palo Alto, posted by Jamie, a resident of the Midtown neighborhood, on Nov 15, 2012 at 1:41 pm
The Bush tax cuts would expire. The military would get a haircut, as would various domestic programs, including entitlements.
We would take on another recession, but probably not a huge one. Then we would have cut the Gordian knot, and move forward. That is what the bi-partisan commission wanted to achieve, in the first place.