President Obama won a second term last week.
As important as that victory is for the future of the country, what looms even closer is the fiscal cliff.
If Congress does not work out a deal before the beginning of 2013, what is being called “Taxmageddon” will hit the American public. Tax cuts will expire, benefits will be cut, and new taxes will kick in. Government spending will be cut across the board at the same time to the tune of billions of dollars, enough for some experts to say it could throw the US economy back into recession.