The ‘Fiscal Cliff’ and Beyond: Principles for Upcoming Budget Debates. Economic Policy Institute. Josh Bivens. November 15, 2012.
As policymakers begin negotiations on addressing the nation’s fiscal challenges, it is crucial that they clearly understand the economic context of the choices they face, according to the report. It provides analyses and recommendations for specific actions regarding both the impending so-called fiscal cliff and future projected budget deficits. [Note: contains copyrighted material].
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Reelected Obama Looks at Fiscal Cliff. YaleGlobal. David Dapice. November 7, 2012.
President Barack Obama has won the hard fought battle for a second term. The president and U.S. politicians must hurry to put finances in order, warns economist David Dapice. Congress failing to agree on raising taxes or cut spending invoked a deus ex machina of painful automatic cuts and deadlines. Democrats, Wall Street investors, corporations and activists will push a divided Congress to develop a reasonable compromise that does not impose sudden austerity. “The really bad scenario is if a combination of EU recession, U.S. fiscal tightening and Asian slowdown interacted and fed off one another,” Dapice writes. A healthy global economy depends on U.S. Congress cooperating with President Obama to contain excessive health-care costs and deficits. [Note: contains copyrighted material].
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