Looking Over the Edge of the Fiscal Cliff

The “Fiscal Cliff” means all income-tax payers are in for an increase and most government programs are in for massive reductions—by the 1st of next year. What if the re-elected President and the lame-duck Congress can’t make a deal? Would Gridlock necessarily lead to another recession? We look at the financial picture—and ask which players have the most to gain or lose in the aftermath of last week’s election.