What does it mean if the US goes over the "cliff"?

Honest question. or does nobody really know?

Taxes on everyone go up, and massive spending cuts kick in..although the spending cuts wouldn't really be a bad thing IMO... well some of em would hurt us, but we are broke and need to cut spending.

It's the taxes issue which threatens us. Our economy is still weak, something like everyones taxes going up like this would/could put us back in a recession, which would most likely drag the rest of the world down with us.

It would really hurt unemployment as well.

It's funny how even libtards admit that these tax hikes would hurt employment, yet they wont admit that lowering taxes helps employment...

So, in theory it's not any worse than the austerity cuts Europeans are enduring right now. Admittedly unemployment here is through the roof, and other sectors of society are still afloat. Going into the cities right now, you wouldn't notice a crisis at all, the shops are full.

Or is the scenario of prisons shutting down, prisoners being released, no police, no unemployment checks, no social security checks and total chaos likely? or not really?

Like Lemmings the rest of the world will follow.

It's likely in the future if we don't change our current path.

The "fiscal cliff" would be austerity combined with much higher taxes for EVERYONE.

Unemployment would go to double digits. It wouldn't be good, but it's nowhere as bad as what will happen if we keep up this reckless spending and inflate our dollar out of existence.

Thanks for your comments Heisenberg, I have family there and am a little worried.

I see this as an opportunity for them to push for higher taxes and more austerity, but I don't think it's Doom time yet...yet. But definetely one step closer.

of course we know what it means....

Exactly.

why doesn't helicoptor ben bernanke come to the rescue?