The fiscal cliff is the biggest uncertainty hanging over the U.S. economy right now.

Credit Suisse's U.S. economics team led by Neal Soss recently published their Fiscal Cliff And Budget Chart Show, a collection of charts that explains what's at stake and what's being proposed.

Below is a break down of the budgetary costs (as a share of GDP) of the tax and spending policies that go in effect on New Year's Day.

"All policies would reduce the federal budget deficit by almost 4% of GDP in fiscal year 2013, and more than 5% of GDP over a full calendar year," writes Soss.