The "fiscal cliff" is political rhetoric. There is no cliff. There are at least 5 separate changes to the economic situation of the country scheduled to begin in January. These issues do not all have the same kinds of impact. Some will impact existing jobs immediately. Some will impact employment only indirectly via individual spending. Some will exhibit fairly rapid impact. Some will take weeks or months to be noticed. Adding up the immediate tax or benefit dollars involved is not very meaningful since it ignores all of the above listed differences.There is no logical reason to group these changes into a single category, nor to refer to that category as a "cliff" other than to achieve political results. Since some of the items are very popular with American voters, the political groups that oppose those changes want to group them in with other less popular changes rather than take on the issues one at a time.Relax and ignore the rhetoric for now. The sky is not falling, chicken little.
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