Salient to Investors:
Congress is nowhere near an agreement on what to do about $607 billion of tax increases and spending cuts slated to kick in at the beginning of 2013.
CBO says if Congress does nothing the economy will probably fall into a recession in early 2013. The Tax Policy Center says 82.9 percent of U.S. households would face tax increases averaging $3,701 if Congress does nothing.
Read the full article at http://www.bloomberg.com/news/2012-06-18/fiscal-cliff-road-paved-by-those-who-took-u-s-to-brink.html