Aug
28
Nevada’s Economy: Fiscal Cliff Raises Fears of U.S. Recession

Nevada's Economy- Fiscal Cliff Raises Fears of U.S. RecessionIn late 2012, U.S. policymakers will be faced with making controversial decisions about the nation’s fiscal policies. As current law stands, the U.S.. government will implement a number of tax increases and spending cuts beginning in 2013. Because implementation of current law resuls in an abrupt change in government spending and taxation policy, the current laws are seen as creating what is known as a “fiscal cliff.” According to many analysts, plunging over the fiscal cliff is likely to push an already weak U.S. economy back into recession.

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