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Wed, May. 23 2012 05:17 PM EDT

CBO: 'Taxmaggedon' Will Cause Short-Term Recession, But Status Quo Unsustainable

By Napp Nazworth
The current tax increases and spending cuts slated to go into effect January 2013 will likely lead to a recession, a new Congressional Budget Office (CBO) report says. On the other hand, preventing those policies from going into effect without replacing them with something comparable would lead to unsustainable amounts of public debt. (A link to this page will be included in your message. )

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