Special Report

Not one – but three fiscal cliffs

While Congress may have just averted one fiscal cliff – there may be more on the horizon. 

American Farm Bureau economist Matt Erickson says December was just the beginning.  “We do have some spending challenges ahead here in the coming months,” he says.  “So I see three fiscal cliff situations looming right now.

Erickson defines what he calls the three impending fiscal cliffs.  “The first one is the debt ceiling – if we’re going to raise the debt ceiling – is this going to be offset with spending cuts,” he says.  “The second one is the sequestration.  How are we going to address this $1.2 trillion over 9 year spending cut issue?  The third one is the Continuing Resolution that is set to expire March 27th of this year.”

And if history serves any purpose – Erickson all three of these could go down to the wire.

AUDIO: Matt Erickson, AFBF (2:36mp3)

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