fiscal cliff
a governmental or personal financial crisis that is brought on by economic factors or policies: High housing costs have pushed many families over the fiscal cliff.Some municipalities are on the edge of a fiscal cliff after years of overspending.
(specifically) a financial crisis that threatens to disrupt the economy or personal finances and is brought on by steep governmental spending cuts and tax increases: Congressional legislation to avert the fiscal cliff.
Origin of fiscal cliff
1Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024
How to use fiscal cliff in a sentence
Oh, and as a result of the fiscal cliff negotiations in late 2012, tax rates on some people actually rose.
They did once in the Obama era on a big thing—the fiscal cliff deal.
What followed, instead, was a year of inaction, culminating in a government shutdown and a stand-off over the fiscal cliff.
The Deal Has Passed, But Don’t Hold Your Breath for Bipartisanship | Jamelle Bouie | December 13, 2013 | THE DAILY BEASTWelcome to Groundhog Day, with the hefty rodents on Capitol Hill scurrying toward another fiscal cliff.
Debt Ceiling Crisis Is Like a Toxic Groundhog Day on Capitol Hill | John Avlon | October 16, 2013 | THE DAILY BEASTWith the fiscal cliff and a potential shutdown looming late last year, a clip of the “Shutdown” episode circulated online.
‘The West Wing’ Government Shutdown Episode Is Frighteningly Familiar | Marlow Stern | October 2, 2013 | THE DAILY BEAST
British Dictionary definitions for fiscal cliff
informal a situation in which sudden changes in government expenditure and taxation have a profound effect on a country's economy
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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