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The U.S. is cruising toward a "fiscal cliff" that will hit the economy with a 3.5% decline in...

The U.S. is cruising toward a "fiscal cliff" that will hit the economy with a 3.5% decline in gross domestic demand, former Fed vice chair Alan Blinder writes. "A number of decisions to kick the budgetary can down the road have conspired to place a remarkably large fiscal contraction on the calendar for January 2013 unless Congress takes action to avoid it" - a phrase that sends shivers up his spine.
Comments (5)
  • The 535, Dumb Ass's need to stop spending....why do we the American Public Know this ......Even if you elect another they spend and spend....
    19 Mar 2012, 11:41 AM Reply Like
  • What we have is a complicated issue with 535 legislators who do not have the skill set to deal with it. Unfortunately they are plugged into selling themselves for the sake of their position. It would be nice if we could get 268 people in DC who could come together and take care of business. I am not optomistic.
    19 Mar 2012, 02:06 PM Reply Like
  • In addition we have one leader for whom the problems are above his pay grade.
    19 Mar 2012, 03:22 PM Reply Like
  • Slight modification:

     

    "In addition we have [more than] one leader for whom the problems are above his [their] pay grade."
    19 Mar 2012, 03:24 PM Reply Like
  • That'll work.
    19 Mar 2012, 03:34 PM Reply Like
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