Aerospace Chiefs Urge Resolution of U.S. ‘Fiscal Cliff’ Crisis | Aviation International News

Regulations and Government

Aerospace Chiefs Urge Resolution of U.S. ‘Fiscal Cliff’ Crisis

Northrop Grumman CEO Wes Bush, left, and Pratt & Whitney president David Hess called for a resolution to the “fiscal cliff” crisis during a Washington, D.C., press conference October 3. (Photo: Bill Carey)

December 7, 2012

The divided U.S. government edged closer to the so-called “fiscal cliff,” a combination of tax increases and automatic spending cuts that will be imposed on January 2 unless political parties reach agreement on a package to reduce the country’s $16 trillion national debt. With 25 days remaining before the measures take effect, the parties were at a stalemate.

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