Fiscal Cliff

A crisis was averted late last night/early this morning when the House of Representatives passed the Fiscal Cliff Bill. The bill increases taxes for individuals earning more than $400,000 a year and couples earning more than $450,000 while others are remaining with the Bush Era Tax cuts. 98% of the country would've faced higher taxes, had the bill not been passed. Also, since the bill had passed, it stopped a $110 billion in automatic cuts to domestic and military spending. Despite this being passed, America is still $16 TRILLION in debt. Almost there, America. 

http://edition.cnn.com/2013/01/02/politics/fiscal-cliff/index.html?hpt=us_c2