Fiscal Cliff Will Hurt Lower Income Families, Damage Federal Programs, SCSU Dean Says [AUDIO]
UNDATED – We’re edging closer to 2013, and along with it, the much talked-about Fiscal Cliff.
If a compromise isn’t reached by the end of the year, there will be automatic tax increases for all Americans, a move some say could send the country into another recession.
On WJON earlier today, Orn Bodvarsson, Interim Dean of the School of Public Affairs at St. Cloud State University, says he believes Congress WILL reach an agreement to prevent going over the cliff – but it likely won’t be a permanent fix.
Bodvarsson says everyone would be affected by the fiscal cliff – but families in the lower income bracket will feel it the most.
Bodvarsson says going over the fiscal cliff will likely also result in cuts to several entitlement programs, the biggest being Social Security and Medicare.