The Fiscal Cliff refers to the sharp decline in the budget deficit that could have occurred in 2013 due to increased taxes and reduced spending as required by previously enacted laws. Most believed the sharp decrease in the deficit would have likely led to a mild recession in 2013 and increased unemployment.
We all know the Fiscal Cliff was averted by the enactment of The American Taxpayer Relief Act of 2012 (enacted in 2013…) but how did we end up in this position?
Planwise takes a look at the timeline of events that grew the US deficit over the past decade that led us to the Fiscal Cliff.
To view the image: Right click and open in new tab
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Colin
Jan 17, 2013 -
Awesome and helpful infographic!
CF
Jan 18, 2013 -
Nice infographic! Have you thought about making it into a slider and scrolling through the timeline? Could be a cool interactive graphic.
CF recently posted…$100 Giveaway: Try a no-spending weekend
Ryan Paredez
Jan 22, 2013 -
@CF,
What do you mean? Like take screen captures of different part of the infograpic and have it slide to a new ‘slide’ aka portion of the infographic?
TTMK
Jan 22, 2013 -
Nice infographic. Makes one look back fondly at the days when we actually had a surplus. Wasn’t that long ago! Also, it’s interesting how the deficit increased to that extent around the time of the stimulus package.
TTMK recently posted…Bad Bosses: What to Do?