fiscal cliff

Peter Shanks/Flickr

The combination of tax raises and spending cuts, known as the fiscal cliff, begins taking effect on Wednesday. If no compromise is reached in Washington, North Carolina could lose nearly 30,000 jobs and three percent of its economic output, according to a July report from George Mason University. That’s next year alone. Overall, North Carolina would face more than a $120 billion in cuts over the next decade.

When introducing students to the idea of “politics,” I often use the idea of a “game”: think of politics with players, rules, teams, fields to play on, equipment, goals, strategies and objectives.

Most politicians describe their involvement in “game-like” ways as well. And sometimes their actions fit into game descriptors, and in that vein, a recent move by the Senate Minority Leader Mitch McConnell could be called a serious “air ball.”

We look at the debate over the looming fiscal cliff. Charlotte has long been seen as a financial hub in America so we'll turn to some of our own local experts to find out exactly what the fiscal cliff is, what the debate is all about, the likely outcome and what impact any deal may have on us all. We examine the fiscal cliff in detail, when Charlotte Talks.

Les Chatfield/Flickr

The White House issued a statement Monday warning that taxes would go up for middle-class families by more than $2,000 on average, if Congress does not prevent the “fiscal cliff”—the series of automatic spending cuts and expiring tax breaks scheduled for the end of the year.