James Kahn Explains the Components and Consequences of the Looming Fiscal Cliff

As 2012 draws to a close, the United States government faces a financial crisis that has Republicans and Democrats divided. But what exactly are they fighting about and what is at stake for the country? Dr. James Kahn, the Henry and Bertha Kressel University Professor of Economics at Yeshiva University, breaks down the political and financial components of the fiscal cliff and explains how taxpayers could be affected if Congress fails to act.

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