Are You Living in Fear of the Fiscal Cliff? (VIDEO)

fiscal cliff

Economists and investors have warned of an impending U.S. financial crisis at the end of this year, but others think the fears are dangerously misguided.

The fiscal cliff, slowing U.S. growth, the U.S. election, Europe and even the weather are keeping small business owners up at night. But which of these factors is having the biggest impact on their business varies. Last week, Federal Reserve Chairman Ben Bernanke sounded another warning to Congress about the so-called “fiscal cliff”— a series of tax hikes and spending cuts set to kick in Jan. 1, as part of a deal struck last summer to raise the federal debt ceiling.

If Congress fails to take action before the end of this year, economists and analysts widely think the U.S. economy could

US Economy, Wealth Building Strategies

VIEWPOINTS: At G8 Summit Obama tells EU to Ease up on Austerity..money printing to follow

G8 Summit in Camp David

World leaders sit together at the first working session of the G8 Summit in Camp David. Photograph: Michael Gotthsalk/Pool/EPA

Obama-G8-Summit-EU-Ease-AusterityAt the G8 Summit, President Barack Obama urged the European leaders to call for concerted action on the euro crisis in the form of easing up on fiscal austerity and to focus on economic growth. This effort by the US President is done in a bid to step the current turmoil in the eurozone and hedge the risk of global contagion.

At the wooded Camp David presidential retreat in Maryland’s Catoctin Mountains, Obama and leaders from other major economic powers are seeking ways to soothe financial markets after worries about Spain’s banking problems and the risk of a Greek exit from the euro zone sent world stocks to their lowest levels this year.

US Economy