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Published December 26, 2012, 06:47 PM

Residents Weigh in on Fiscal Cliff

If there isn't a breakthrough before New Year's Day every American will be hit with higher taxes. "Fiscal Cliff" has become an iconic term for 2012, and many still don't know much about it.

By: David Schwab, WDAZ

If there isn't a breakthrough before New Year's Day every American will be hit with higher taxes.

"Fiscal Cliff" has become an iconic term for 2012, and many still don't know much about it. There is a lot to know about the legislation with the scary nickname. Economist Dr. Cullen Goenner says the term "fiscal cliff" may be exaggerating the situation slightly, at least at the moment. David Schwab explains.

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