We should expect at least a Fiscal Clifflet for the US

Two months ago, we got four scenarios for the fiscal cliff via Credit Suisse and Sober Look. All of these scenarios called for at least a 0.9% drag on the economy, meaning that we should fully expect at least a 0.9% drop in annualized GDP because of the fiscal cliff. I think this is the right frame for the fiscal cliff debate as Stan Collender’s column today shows. Collender writes: How ridiculous is the fiscal cliff debate? The answer is that it’s off-the-wall crazy. Consider the following. T...


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