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John Burfisher/MEDILL

Fiscal cliff has consumers on edge

by John Burfisher
Dec 05, 2012

The fiscal cliff is set to be triggered Dec. 31 and Congress is still arguing over a compromise that would avert it. Chicago area shoppers seem well informed on the complicated issue and weigh in on the proposed tax hikes and spending cuts.

Republicans and Democrats put forth their initial proposals this week to resolve the standoff. If Congress does not reach a middle ground that is acceptable to the Obama administration, it could hurt U.S. economic growth and send the economy straight into another recession, economists warn.