Fiscal Cliff Facts
Ten Washington programs that mostly benefit poor Americans cost $588 billion in 2012, or one-sixth of all federal spending.
Following the 9/11 terrorist attacks, Pentagon spending on defense contractors skyrocketed, totaling $3.3 trillion over the past decade.
Federal watchdog agency blames billions in Pentagon waste on overlapping programs.
Since the recession, revenue-starved states have grown more reliant on federal help, but those funds may now be in danger.
Automatic, mandatory spending cuts could hammer the Pentagon and some domestic programs, but others will be safe and sound.
Federal revenue from capital gains taxes fell sharply during the recession, down $100 billion from 2007 to 2009. Rates are set to rise in 2013.
The alternative minimum tax created by Congress to make sure wealthy Americans pay some federal tax is increasingly hitting middle-income taxpayers.
- 1 of 2
- Next Facts