Walter H Stern - Fiscal Cliff

We have heard the expression "fiscal cliff" on numerous occasions to point out the dire economic consequences of the federal budget. The expression was dormant for decades until its use exploded in recent years.

Walter Stern, a former real estate writer for the New York Times, first used the expression on Oct 20, 1957 during a front page story in the paper. He referred to a home buyer as having the potential to be pushed off the fiscal cliff as a result of the purchase.

Sterns was with the Times from 1942-1961 before he left to pursue a career in public relations. He spent the 1970's and 80's doing media work for Mobil Oil.

He died on November 2, 2013 at the age of 88 while living in Florida.