If the end of exams has you looking for something to do, spend time researching the fiscal cliff.
According to Wikipedia, the fiscal cliff is a “term used to refer to the economic effects that could result from tax increases, spending cuts and a corresponding reduction in the US budget deficit beginning in 2013 if existing laws are not changed by the end of 2012.”
The fiscal cliff takes root in a variety of legislation, most notably the Budget Control Act of 2011, which was built to prevent the US from sovereign default in August 2011.
Here are a few links to help you get started with your research.
The US Government
Check out hearings and speeches from Congress:
- Senate Budget Committee (Democrats)
- Senate Budget Committee (Republicans)
- House Committee on the Budget
Read this December press release from the Federal Open Market Committee Chairman Ben Bernanke.
Browse this report by the research arm of Congress entitled The “Fiscal Cliff”: Macroeconomic Consequences of Tax Increases and Spending Cuts.
Skim this report from The Congressional Budget Office entitled Choices for Deficit Reduction.
Get proprietary economic data, analysis and commentary on Roubini Global Economics (RGE). (Off-campus access is controlled by HLS Me Account.)
Get policy discussion from think tanks, including from the Tax Policy Center.
Read this free book (online) called Is U.S. Government Debt Different?
Check out the New York Times Deficit Puzzle.
Further Research Guidance
Get research help from the HLS library Reference Desk.