fiscal cliff
noun
a governmental or personal financial crisis that is brought on by economic factors or policies: High housing costs have pushed many families over the fiscal cliff. Some municipalities are on the edge of a fiscal cliff after years of overspending.
(specifically) a financial crisis that threatens to disrupt the economy or personal finances and is brought on by steep governmental spending cuts and tax increases: Congressional legislation to avert the fiscal cliff.
Origin of fiscal cliff
First recorded in 1950–55
Words nearby fiscal cliff
firsts,
firth,
fisc,
fiscal,
fiscal agent,
fiscal cliff,
fiscal drag,
fiscal policy,
fiscal year,
fischer,
fischer von erlach
Example sentences from the Web for fiscal cliff
British Dictionary definitions for fiscal cliff
fiscal cliff
noun
informal
a situation in which sudden changes in government expenditure and taxation have a profound effect on a country's economy