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What is the fiscal cliff and how could it affect your life and your wallet?

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Federal Reserve Chairman Ben Bernanke called it the “fiscal cliff.” It’s defined as the potentially dire economic situation the U.S. faces at the end of next month.

However, the issue isn’t on the minds of many mid-state residents.

A large percentage of those we spoke with were unaware of the potential tax increases and cuts in government services. Some didn’t know what to offer as a solution. Many didn’t have an opinion, but not all.

“Well I don’t think it would be as much of a conundrum if the Republican Congress would be able to work with our president,” commented Lisa King of Mechanicsburg. “I think they’ve shown from the get-go that they have no intention of doing that. But now that he’s been elected to a second term, I don’t think they have any choice.”

Jess Weigel describes himself as a fiscal conservative and says the country should never have been put in this position.

“We should have been more diligent in our spending. Our tax structure should have been revamped a number of years ago so that we wouldn’t be here today,” believes Weigel. “Now we’re here and with the partisanship in the country I don’t think they’ll come to any agreement that is satisfactory to the majority of Americans.”

Taking care of the nation’s returning and disabled veterans is one program that many believe shouldn’t be cut. And if it is, one man has a recommendation.

“They should have been on top of that a long time ago,” cited Perry County’s Paul Wolf. “I think it was Forbes that said it. If they can’t balance the budget, they shouldn’t be elected.”

One young woman offered a more optimistic view. “I hope that Congress will reach an equitable resolution and that the Democrats and the Republicans will work together to save social programs and solve the crisis as they see fit,” commented Hilary Vesell.

One person we spoke with smiled and then said that a Pennsylvanian will the Powerball before the Republicans, Democrats and the President reach an agreement.



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