What the heck is the fiscal cliff? We have answers

Nov. 13, 2012 at 3:47 PM ET /
John Schoen will answer your questions about the fiscal cliff.

Stop! Wait! No! It's a "fiscal cliff," and the country is in danger of driving over it.

Yes, the term "fiscal cliff" has been in the news a lot lately, and you can be forgiven if you don't entirely know what it means. For starters, what's up with the name?

New York Magazine posted their own tongue-in-cheek Q&A to help clear up the confusion. It's called, "The Absolute Moron’s Guide to the Fiscal Cliff."

"Q: So, first things first: What is a “physical cliff”? 

A: It’s fiscal. As in, relating to government finances."

Ahh, that makes a lot more sense. Now why again is it such a big deal?

Fear not, this Wednesday from 12-1 p.m., economic reporter John Schoen will host a live chatto help explain it all. No matter how dumb you think your questions are, John will answer them. 

For homework, you may want to read these stories: