Political Headlines January 1, 2013: 5 things to know about the fiscal cliff

POLITICAL HEADLINES

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OBAMA PRESIDENCY & THE 112TH CONGRESS:

THE HEADLINES….

5 things to know about the fiscal cliff

Source: CNN, 1-1-13

It’s complex, dense, and filled with compromise. And the deal passed by the Senate to avert the “fiscal cliff” might not even become law, depending what actions the House takes.

Here are five things to know about the bill that passed the Senate overwhelmingly in the middle of the night.

1. No side won.

2. We may have a new definition of “wealthiest Americans.”

3. The deal “kicks the can,” and three more “fiscal cliffs” are looming.

4. If it doesn’t pass

5. Either way, your paycheck is likely to shrink

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