What Is the 'Fiscal Cliff'?

What is 플랜B against 재정절벽(Fiscal Cliff)?

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What Is the 'Fiscal Cliff'?
The 'fiscal cliff' may sound like the name of an exercise retreat on a mountain top in Southern California, but the reality is not so pretty.

What 'fiscal cliff' actually refers to is the potentially dire economic situation the U.S. faces at the end of 2012.

The now infamous phrase was coined by Federal Reserve Chairman Ben Bernanke in February 2012, during one of his required appearances before Congress on the state of the U.S. economy. He described ... "a massive fiscal cliff of large spending cuts and tax increases" on Jan. 1, 2013.

Since then, 'fiscal cliff' has taken on legendary status as a harbinger of economic gloom and doom.

So what does the 'fiscal cliff' trigger for the economy and how bad can it be? Here's a look.
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