Lawmakers pointed fingers at each other yesterday after a new report predicted the economy will go into a recession next year if several things happen--including the start of across-the-board defense cuts--that observers call going over the “fiscal cliff.” The economy would go over this so-called cliff if several things happen in January--including $1.2 trillion in decade-long sequestration budget cuts to defense and non-defense spending starting, Bush-era tax cuts expiring, and reduced Medicare payment rates to physicians kicking in. The non-partisan Congressional Budget Office…
CBO Recession Prediction Has Pols Pointing Fingers
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