A full two hours after a midnight deadline, the U.S. Senate overwhelmingly passed a deal Tuesday to avert the feared fiscal cliff of tax increases and spending cut.

The bipartisan bill passed 89-8.

Posted in: News

The fiscal cliff is overrated by some measures. It's just the beginning, by others.

The economy won't cease to exist if the cliff is breached. However, prospects for a long-term recovery - and the political system's ability to institute positive change - are in doubt.

Posted in: News

Still reeling from the 2012 presidential election, C. Montgomery Burns of The Simpsons fame took a few minutes to explain the upcoming Fiscal Cliff this week.

You have to give the tycoon credit for moving on in the wake of Mitt Romney's defeat to bring America up to date on January 1's impending financial calamity.

Posted in: Fiscal Cliff