Do You want 4 More Years of
Headlines like the following?
CBO: Recession in 2013 unless
Congress acts on fiscal issues
“This is the first time CBO has forecast a recession resulting from the fiscal cliff. “
Early next year income taxes are set to go up when the Bush-era tax rates expire. Automatic spending cuts totaling roughly $109 billion triggered by last August’s debt-ceiling deal are set to hit. Meanwhile, payments to physicians under Medicare will be slashed.
CBO projects that these and other elements of the so-called “fiscal cliff” will cause the economy to contract as demand dries up.