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Many fear going over the fiscal cliff

By: Rebekah Pewitt Email
By: Rebekah Pewitt Email

HAZARD, Ky. (WYMT) - The country is one day away from the fiscal cliff deadline, and officials have said they hope to come to an agreement soon.

It is a compromise that has yet to be reached, and could have serious consequences come Monday

For those in Eastern Kentucky, they said the consequences are too great.

“Well it's very frustrating, not just for me but the whole country. I'm mean it's desperate times now anyway,” said local Jack Rice

A former economics professor said that the average person would be the one to pay the price.

“The average family in the united states is going to be hit by about $2,200 dollars in higher taxes over the length of a year,” said Richard Crowe.

And for those who depend on government money, their monthly checks might be delayed.

“I guess I won't know until Monday in my direct deposit; kind of concerning but you never know,” said Rice.

However, some have said the cost may have better long term results.

“In the long run, if it brings down the overall debt which is a major problem the country has now, and gets our economy in a situation that we could control better,” said Crowe.

It could lead to an outcome where everyone wins.

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