House Speaker John Boehner, seen last week, discusses the looming fiscal cliff. Brendan Hoffman/Getty Images hide caption

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Brendan Hoffman/Getty Images

Fiscal Cliff Would Only Dent The Deficit

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Alternative Minimum Tax Could Affect Millions

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How Will Sequestration Affect The Federal Budget?

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A Marine Corp F-35B Joint Strike Fighter lands at Patuxent Naval Air Station in Maryland in 2011. Analysts say that if mandatory Pentagon budget cuts are imposed next year, fewer new planes could ultimately be ordered. Cliff Owen/AP hide caption

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Cliff Owen/AP

Fiscal Cliff Could Hit Civilian Pentagon Workers First

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For High Earners, Expiring Tax Cuts Would Hit Hard

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The Social Security tax rate is scheduled to revert to 6.2 percent next year, up from the temporary reduction — to 4.2 percent on an employee's first $110,000 in wages — which has been in effect since January 2011. iStockphoto.com hide caption

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iStockphoto.com

Payroll Tax Holiday May Not Survive Year's End

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