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What is the Fiscal Cliff?

Asked by NostalgicChills (2755 points ) January 10th, 2013

Yes, I realize I can google it and do research- No, I’m not too lazy to find out for myself- I’d just much rather hear from you guys. You’re all awesome.
So tell me please, in plain English, what is the Fiscal Cliff and why is it such a big deal? I’m eager to learn.

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