Fiscal Cliff: How did we get here? What’s next?

Qorvis’s Chuck Conconi and Stan Collender talk about the fiscal cliff on Focus Washington. The combination of tax increases and spending cuts go into effect on January 1 and 2 would cut the budget deficit by $600 billion but raise taxes on 90% of Americans. This would economic growth by 3% throw the economy into a tailspin and into a recession. The common wisdom is that this will get fixed because Congress doesn’t create a recession, but this may not happen until after we go over the fiscal cliff.