By Guest Blogger Tim Robinson. Fiscal cliff is a financial situation that is due to be implemented from the first day of the next year. The fiscal cliff would be characterized by tax hikes and spending acts primarily. Though the Americans are hoping with all their hearts that, the Congress and the president himself would come in terms to avert this situation, there are little chances that such a thing would happen. It is undoubted that the fiscal deficit is going to bring the ultimate kind of financial disaster and the American economy shall fall “off the cliff”. As a result of the implementation, the tax increase would reach a height, which has remained hitherto unforeseen. There will be an obvious and perfect strangling of both personal as well as national economy. A number of researches have been conducted in order to figure out, the effects of the fiscal cliff. A recent report from the CBO or the Congressional Budget Office says that the fiscal cliff will lead the United … [Read more...]