Journal Article
The fiscal cliff in context
Abstract: Federal revenue is currently well below its postwar, pre-crisis average, while expenditure is well above, with both factors contributing to a large and persistent deficit. Under current law, the deficit situation would be quickly, if painfully, resolved, with the lion?s share resulting from increased tax revenue.
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https://fraser.stlouisfed.org/title/economic-synopses-6715/fiscal-cliff-context-624375
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Provider: Federal Reserve Bank of St. Louis
Part of Series: Economic Synopses
Publication Date: 2012
Order Number: 34