Investopedia: The Fiscal Cliff - The Good, Bad, And Ugly
Looming over the stock market, the economy, and the upcoming election is
the specter of the so-called "fiscal cliff" - a collection of tax
increases and spending cuts that will go into effect on Jan. 1, 2013 if
Congress is not able to pass some sort of compromise. As economists and
analysts are forecasting an impact to GDP from 2% to 5% in 2013, it's
clearly a significant event for investors to consider. What then is the
bull/bear scenario as the fiscal cliff approaches?