Of the possible consequences of continued bank bailouts and ongoing financial assistance to certain industries, both in the United States and abroad, currency hyperinflation tops the list of worst-case scenarios.
The decisions being made in Washington D.C. at this time will most likely have a profound impact on the way that Americans, especially those in the Baby Boomer generation, finance themselves, their families and their lives.
An odd yet troubling factor has entered the U.S. fiscal cliff debate: Christmas vacation.
After news broke about the new set of proposed fiscal cliff resolutions, representatives from both parties quickly took to Twitter and the airwaves to dispel any ideas of compromise ahead of a final plan.
To help illustrate this point, we’ll look at each type of outstanding debt in succession and describe how it relates to the debt numbers that are often discussed and paraded around by Congressional politicians and media pundits.
During this time, the market has, for the most part, been forgiving. Yet politicians from both parties seem to be aware that these favorable conditions could change quickly, according to The Associated Press.
Declaring that everything is “on the table,” a group of Republicans from the party’s moderate and conservative wings are urging their colleagues to put their ideologies aside in order to find a solution to the “fiscal cliff.”
Speaking with CNBC’s Steve Liesman, the treasury secretary reiterated President Barack Obama’s demands for higher taxes as part of any final fiscal cliff deal.
Now, according to media reports, President Barack Obama is reaching out for solutions in a bid to keep the negotiations from falling apart.