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Louisiana Gov. Bobby Jindal, who seems to think he’s a potential candidate for the Republican presidential nomination in 2016, apparently is under the misimpression that the fiscal cliff poses the risk of an immediate increase in budget deficits.
The truth of the matter, as I noted HERE the other day, is exactly the opposite. Going over the fiscal cliff would sharply reduce budget deficits, at least at the outset. The immediate deep cuts in federal spending and increases in taxes across the board would push budget deficits down but might also push the nation into another recession.
But Jindal got it all ...
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