Fiscal Cliff Notes An occasional series which breaks down the looming "fiscal cliff" of expiring tax cuts and deep automatic spending cuts set to hit around the first of year.

President George W. Bush signs tax cut legislation on June 7, 2001. The cuts from this and a subsequent bill are set to expire at the end of 2012. Stephen Jaffe/AFP/Getty Images hide caption

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Stephen Jaffe/AFP/Getty Images

Obama Would Pay More — Romney, A Lot More — If Bush-Era Tax Cuts End

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Josh Walling and Randi Cartmill with their children, Jacqueline, Josh and Ryan. Josh Walling says his family, whose household income is below the national median, would lose a substantial amount of money if the Bush tax cuts expired. Courtesy of Randi Cartmill hide caption

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Courtesy of Randi Cartmill

Bush Tax Cuts: The New Middle-Class Norm

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