The Abyss

Monday, February 25, 2013

Preview:

If you are like most Americans, by now you are tired of hearing the term “Fiscal Cliff.” While dramatic, the term merely meant a combination of tax increases and spending cuts sufficiently large enough to precipitate a new recession.

 
At the last moment Congress acted and all felt relieved, including the stock market. Yet the action taken, while including no spending cuts, did incorporate a sizeable tax increase which if not recessionary may well be a drag on 2013 economic growth.
 
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