1. The 'Wall Street Journal'
The Wall Street Journal's David Wessel gives a run down of what you should know about the upcoming "cliff." Note: This video was published before the election.
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The term "fiscal cliff" has been dauntingly tossed around the news over the past few months. But what does it actually mean? A lot of Americans are asking that question -- and rightfully so.
"Fiscal cliff" refers to the economic perfect storm of budget cuts and tax increases the U.S. government could face at the end of 2012 due to tax breaks ending, increased costs from the Affordable Care Act and the debt ceiling deal made back in 2011.
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If the U.S. goes "over the cliff," so to speak, many experts say it could cause the economy to revert to recession. The White House and Congressional Democrats are sparring with Congressional Republicans on how best to avoid that fate -- President Barack Obama and most Democrats want to raise taxes and cut some spending, while most Republicans want to focus more heavily on spending cuts without raising taxes.
Looking for a little more explanation from experts? You're in luck -- to help wrap your head around the economics of it all, Mashable compiled a handful of YouTube videos, from notable outlets like the Wall Street Journal and Reuters, that break it down in clear-cut, easy-to-comprehend visuals.
Take a look through the gallery above to see them yourself. Any helpful ones we missed?
Image courtesy of The Simpsons
This story originally published on Mashable here.
- Politics & Government
- Budget, Tax & Economy
- Wall Street Journal