We've used a graphic to help students understand what is meant by the Fiscal Cliff. Students will understand some of the terms and study the consequences of two upcoming scenarios. They will be deducing information from the graphic.
To show the graphic on your smart board or just larger through your computer on a large screen use this image. (Clicking on the image makes it larger.)
For members we have an editable Word doc and solutions.
FiscalCliff.doc FiscalCliff-solutions.pdf
CCSS: 8.SP, 7.SP, HSF-IF
To further understand the words Deficit and Debt, check out this post.