LINGUISTICS & CULTURE
|Data:||13/NOV/2012 10:08 PM|
In late February 2012, Ben Bernanke, chairman of the U.S. Federal Reserve, was the first person to use the term "fiscal cliff" for this crisis. Before the House Financial Services Committee he described that "a massive fiscal cliff of large spending cuts and tax increases" would take place on January 1, 2013.
Some analysts have argued that "fiscal slope" or "fiscal hill" would be more appropriate terminology because while the cumulative economic effect over all of 2013 would be substantial, it would not be felt immediately but rather gradually as the weeks and months went by.
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