Fiscal Cliff Amounts to Dual Economic Threat
Abstract
Only 21 days left until the U.S. turns into a fiscal pumpkin at the stroke of midnight, and the media is still bombarding the American public at every turn. Yet, a recent Business Insider Poll showed that by a wide margin, 47 percent versus 12 percent, Americans believe a full-on fiscal cliff would actually increase the deficit rather than decrease it. What? In the spirit of providing clarity on this apparently misunderstood issue, the so-called fiscal cliff amounts to the dual threat of automatic across the board cuts to federal spending and tax increases, enough to dip the economy back into recession in 2013...
This paper has been withdrawn.
