The Fiscal Cliff

A combination of automatic spending cuts and an end to a variety of tax cuts threatens to put the U.S. economy into recession in 2013.

Features
- Nov. 26, 2012
  
  News
  
  Moderate Growth Likely Pending 'Fiscal Cliff' Compromise
  
  MAPI predicts manufacturing production will increase 2% in 2013 and 3.2% in 2014...More
- Nov. 14, 2012
  
  Article
  
  IndustryWeek
  
  Finance: US Economy Heading Toward the Fiscal Cliff
  
  How's this for a conundrum: If the U.S. Congress does nothing prior to Jan. 1 to prevent the full fiscal cliff from occurring, the country will almost certainly slip back into recession....More
- Nov. 14, 2012
  
  Commentary
  
  The Competitive Edge: Playing Chicken with Our Economic Future
  
  Policymakers in the nation's capital are often, justifiably, accused of enacting well-intended policies that have significant unintended economic consequences....More
- May 22, 2012
  
  article
  
  IndustryWeek
  
  Congressional Budget Office Warns of U.S. Recession After 'Fiscal Cliff'
  
  Downturn likely in 2012 unless Congress stops scheduled spending cuts and tax hikes, the result of a fight between Democrat and Republican lawmakers over raising the country's debt limit....More
- Jun. 20, 2012
  
  article
  
  IndustryWeek
  
  Survey: Slow Recovery, Threat of 'Fiscal Cliff' Dim CEO Optimism
  
  Boeing CEO Jim McNerney noted that the threat of sequestration already has forced the aerospace firm to delay hiring and 'trim employment in certain places.'...More
Commentaries & Blogs
- Feb. 26, 2013
  
  blog
  
  Keeping Sequestration in Long-Term Perspective
  
  We have to face the choice of accepting spending cuts now or later. The difficulties will only be greater if we delay....More
- Nov. 15, 2012
  
  blog
  
  Recent Talks on Fiscal Cliff Result in Interesting Concession
  
  Government leaders are considering tax increases on the wealthy and corporations, but they admit it may not be enough....More
- Nov. 14, 2012
  
  Commentary
  
  Make Your Move: Finding Opportunity in the Mining and Metals Market
  
  Renewed demand in Asia in early 2013 will bode well for the U.S. mining and metal production industry....More
- Nov. 14, 2012
  
  blog
  
  Meeting in the Aisle in Washington
  
  We at ITR have been saying how critical compromise on important issues in Washington is, and now, it looks like it might actually happen....More
- Nov. 6, 2012
  
  blog
  
  Rising Tax Burden Could Affect Middle Class No Matter Who Wins
  
  Millions of households could face a new tax burden in 2013 under the Alternative Minimum Tax (AMT), providing another challenge to economic growth....More
- May 25, 2012
  
  blog
  
  The CBO and Our Fiscal Cliff
  
  The Congressional Budget Office released a statement that said the U.S. economy could contract by 1.3% in the first half of 2013 if the Bush-era tax cuts expire and the automatic federal spending cuts become a reality. That certainly does not make ......More

News
- Mar. 4, 2013
  
  News
  
  IndustryWeek
  
  Business Economists Oppose Full Budget Sequestration
  
  More than 70% of business economists surveyed oppose the full implementation of the budget sequester that went into effect on March 1. However, economists were even more in favor (94%) of Congress enacting policies to bring about further deficit reduction over the coming 10 years....More
- Mar. 1, 2013
  
  News
  
  $85 Billion Sequester to Hit US Economy
  
  President Barack Obama is bound by law to initiate the automatic, indiscriminate cuts, which could wound the already fragile economy, cost a million jobs and harm military readiness, by 11.59 pm....More
- Feb. 22, 2013
  
  News
  
  US Sequester Cuts will Force Flight Delays, Control Tower Closures
  
  Budget cuts will force the Federal Aviation Administration to reduce airport staffing around the country, shutting towers at smaller airports and causing a general slowdown of civil aviation operations....More
- Jan. 2, 2013
  
  News
  
  Fiscal Cliff Deal May Slow US Economic Growth
  
  Higher paycheck deductions and tax increases on the country's wealthiest will suck enough money out of the economy to significantly hold back growth in 2013, economists say....More
- Jan. 2, 2013
  
  News
  
  Global Shares Rally on US Fiscal Cliff Deal
  
  London's FTSE jumped 1.8%, Frankfurt's DAX 30 index surged 1.95%, and the Paris CAC 40 leapt 1.89%....More
- Dec. 26, 2012
  
  News
  
  Obama Breaks off Vacation to Deal With Fiscal Cliff
  
  With President Barack Obama heading back to Washington, U.S. lawmakers were under increased pressure Wednesday to hammer out an 11th-hour deal that would prevent taxes from rising for all Americans....More
- Dec. 26, 2012
  
  News
  
  Starbucks CEO to Lawmakers: 'Come Together' on Fiscal Deal
  
  Howard Schultz: 'We have an opportunity -- and I believe a responsibility -- to use our company's scale for good by sending a respectful and optimistic message to our elected officials ... '...More
- Dec. 12, 2012
  
  News
  
  CEOs Press US Lawmakers to Avert Fiscal Cliff with 'Market-Credible Deal'
  
  The 'political paralysis' that has fueled economic uncertainty and discouraged business investment 'must come to an end,' CEOs from the Business Roundtable declared in a letter....More
- Nov. 25, 2012
  
  News
  
  Republicans Signal Flexibility on Tax Hikes as Fiscal-Cliff Talks Resume
  
  But GOP leaders insist that Democrats must meet them halfway by pledging cuts to entitlement programs....More
- Nov. 16, 2012
  
  News
  
  Obama Says 'Tough Compromises' Needed in Fiscal Cliff Talks
  
  Congressional cooperation is required to avoid the huge tax hikes slated to hit on January first, Obama insists....More
- Nov. 13, 2012
  
  News
  
  U.S. Budget Deficit Jumps 22% in October 1
  
  The budget gap reported Tuesday was much wider than the consensus analyst estimate of $113 billion....More
- Nov. 7, 2012
  
  News
  
  Re-elected Obama Faces Countdown to Fiscal Cliff
  
  Barack Obama's re-election as U.S. president set the stage Wednesday for a fresh political battle over the year-end "fiscal cliff" budget crunch which threatens to force the economy back to recession....More
- Oct. 26, 2012
  
  News
  
  US Manufacturers Warn over Fiscal Cliff
  
  The National Association of Manufacturers said the measures, slated to start in January, would force the loss of six million jobs, sending the unemployment rate to 11%....More
- Sep. 26, 2012
  
  News
  
  US CEOs Moods Dim as Fiscal Cliff Looms, European Crisis Deepens
  
  The looming fiscal cliff and weaker demand in Europe and China have driven U.S. business leaders to their gloomiest outlook in three years, a survey released Wednesday showed....More