In 2011, which of the following resulted in a fiscal cliff?
A) Congress reaching a reasonable long term agreement to lower tax rates
B) The government decreasing the debt ceiling
C) The government incurring a budget surplus
D) Congress finally agreeing to raise the debt ceiling

Question

In 2011, which of the following resulted in a fiscal cliff?
A) Congress reaching a reasonable long­ term agreement to lower tax rates
B) The government decreasing the debt ceiling
C) The government incurring a budget surplus
D) Congress finally agreeing to raise the debt ceiling

Quizplus · Accepted Answer

In 2011, the fiscal cliff was a result of Congress agreeing to raise the debt ceiling, which led to automatic spending cuts and tax increases set to occur at the end of 2012 if no further action was taken.

In 2011, Which of the Following Resulted in a Fiscal