Can you explain the fiscal cliff in 30 seconds?

For this week’s featured answer, we turn to the sexy topic of US fiscal policy. In between leftover Thanksgiving turkey sandwiches and drafting up your holiday wishlist, you may have heard of our nation’s pending doom on New Year’s Eve, also known as the fiscal cliff.

Federal Reserve Chairman Ben Bernanke coined the term last winter and reporters have latched on. After all, what better way to spice up a snorefest like fiscal policy than to turn it into a doomsday prophecy like careening off a cliff?

You can read hundreds of articles and essays about the topic, but if you want a quick 30-second answer, we’re here:

And now back to that turkey sandwich…

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