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Published on May 24, 2012
The Congressional Budget Office gave a pretty dire warning about the economy this week. In a report the FBO warned that the combination of budget cuts set to go into effect next January and an expiration of Bush tax cuts, and the payroll tax and extended unemployment benefits would be a fiscal cliff. And if Congress lets us go off that cliff, they predicted that the economy would shrink by 1.3% in the first half of 2013. But will Congress really do anything about it? Serial Entrepreneur and Venture Capitalist Nick Hanauer weighs in.