Tag Archives: recession

Automatic spending cuts and tax hikes are set to go into effect Jan. 1, absent a compromise over the budget, and consumers are worried about the impending “fiscal cliff.” President Barack Obama and Republican congressional leaders are still trying to negotiate at the 11th hour. If a deal isn’t reached, there could be serious consequences for consumers.   Another Recession Looms The so-called fiscal cliff refers to the end of 2012, when provisions of the Budget Control Act of 2011 …