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.

fiscal cliff

noun

informal��a situation in which sudden changes in government expenditure and taxation have a profound effect on a country's economy

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Word History and Origins

Origin of fiscal cliff¹

First recorded in 1950–55

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Example Sentences

Examples have not been reviewed.

The current blueprint for reform comes from the Chicago Metropolitan Agency for Planning, which was directed by the state to produce a 134-page study in 2023 that anticipated the arrival of the fiscal cliff.

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The president’s order also creates an artificial fiscal cliff.

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The Dodgers’ thrilling playoff run comes as Los Angeles faces a fiscal cliff.

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Mayor Cavalier Johnson of Milwaukee said the infusion of cash helped his city deal with “a fiscal cliff” and leverage an increase in the sales tax to support police and fire departments.

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Not long ago, the agency’s director, Jeffrey Tumlin, was worried that it was barreling toward a “fiscal cliff,” when it would run out of money and have to make big cuts in service.

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fiscal agent fiscal drag

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