The 'Fiscal Cliff': Macroeconomic Consequences of Tax Increases and Spending Cuts (CRS report)
The first section of this
report summarizes the size and composition of the original fiscal
cliff. The next section provides details of recent legislation. The
following sections review aggregate economic effects, the
differential effects of components of the cliff, and the magnitude of
the remaining contractionary effects. Earlier legislative proposals
are summarized in an appendix.