Fiscal Cliff Could Cost Federal Gov't $503 Billion

Fiscal Cliff Could Cost Federal Gov't $503 Billion Play

Dec. 19 (Bloomberg) -- The fiscal cliff would cost the government over 500 billion dollars. But how will federal spending cuts and tax hikes impact you? Bloomberg Television goes to one American city, Norfolk Virgina, to see the cliff's true impact on the community as they brace for the worst. Special Correspondent Matthew Dowd spent time with the people, businesses and government in the area to understand the implications that will ripple through the economy. He reports on Bloomberg Television Special, "Fiscal Cliff: USA." (Source: Bloomberg)

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