{"id":16328,"date":"2012-12-07T00:00:01","date_gmt":"2012-12-07T05:00:01","guid":{"rendered":"https:\/\/beta.pewresearch.org\/pewresearch-org\/short-reads\/%year%\/%monthnum%\/%day%\/most-americans-believe-failure-to-avoid-fiscal-cliff-would-have-a-major-impact-2\/"},"modified":"2024-04-14T03:42:21","modified_gmt":"2024-04-14T08:42:21","slug":"most-americans-believe-failure-to-avoid-fiscal-cliff-would-have-a-major-impact-2","status":"publish","type":"short-read","link":"https:\/\/beta.pewresearch.org\/pewresearch-org\/short-reads\/2012\/12\/07\/most-americans-believe-failure-to-avoid-fiscal-cliff-would-have-a-major-impact-2\/","title":{"rendered":"Most Americans Believe Failure to Avoid Fiscal Cliff Would Have a Major Impact"},"content":{"rendered":"
\"\"<\/a><\/figure>\n\n

Nearly seven-in-ten (68%) of Americans say there would be a major effect on the U.S. economy from the automatic tax increases and spending cuts that would be triggered if the White House and lawmakers failed to reach a deal to avoid the \u201cfiscal cliff.\u201d Almost as many (62%) said the impact would be mostly negative.<\/p>\n\n

A smaller number (44%) of the overall public \u2013 including those who believe the effect would be minor \u2014 say the impact of the tax hikes and spending cuts would have a major effect on their own financial situations. However, among those Americans who believe the effects on the economy will be mostly negative, 60% say they expect an adverse impact on their own financial situation if no deal is reached.<\/p>\n\n

Republicans and Democrats take somewhat different views on the effect automatic spending cuts and tax increases would have on the economy and their own personal finances.<\/p>\n\n

Republicans are more likely than Democrats to say there would be a major effect on the economy (78% vs. 64%) as well as on their own personal finances (54% vs. 39%).<\/p>\n\n

In addition, 79% of Republicans say the effect on the economy would be negative and 74% see a negative impact on their own personal finances. By comparison, Democrats express less concern: 50% say the economic effect of automatic spending cuts and tax increases would be mostly negative, and 52% say the same about the effect on their personal finances. Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Nearly seven-in-ten Americans say there would be a major effect on the economy if a deal isn\u2019t reach to avoid the fiscal 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