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Steve Benen, among others, ARGUES that “fiscal cliff” is the wrong metaphor for the fiscal challenge currently facing the federal government:
It’s true that federal policymakers are facing a daunting task. At the end of next month, automatic spending cuts are due to kick in, just as all Bush-era tax cuts and President Obama’s payroll tax cuts, are set to expire. The Congressional Budget Office has said the combination of events may push the economy into a recession, unless a compromise solution is reached.
The situation is commonly characterized as the “fiscal cliff.” There is, however, a problem with the ...
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