Fiscal cliff, or fiscal slope? There are lots of names for the year-end event

By Catherine Hollander

December 13, 2012

Federal Reserve Chairman Ben Bernanke is credited with popularizing the term “fiscal cliff” earlier this year to describe the tax hikes and spending cuts the country faces at the start of 2013. Asked during a Wednesday press conference if he still believes "cliff" is an apt characterization, Bernanke said he does. Here’s how other economists, lawmakers, and writers have described the year-end … oh, you know.

What's in a name, anyway?  “I don’t spend a lot of time worrying about whether it’s a slope or a cliff,” outgoing Senate Budget Committee Chairman Kent Conrad, D-N.D., said in an interview with National Journal this week. “I like to deal with facts.… I think the realistic assessment is, it would be much better to [reach a deal] before the end of the year, because you’d remove uncertainty, but I also think it’s not the end of the world if it didn’t happen until early in the next year.”

Katy O'Donnell and Caren Bohan contributed to this report.

(Image via Mostovyi Sergii Igorevich/Shutterstock.com)


By Catherine Hollander

December 13, 2012

http://www.govexec.com/oversight/2012/12/fiscal-cliff-or-fiscal-slope-there-are-lots-names-year-end-event/60137/