“Fiscal cliff” could cause U.S. recession

(Reuters) – A stalemate over how to tackle a series of fiscal deadlines at year’s end would likely push the United States economy into recession in the first half of next year, the Congressional Budget Office warned on Tuesday.

A wave of U.S. tax hikes and automatic spending cuts – dubbed the “fiscal cliff” – are set to take effect in January unless Congress and the White House agree on ways to delay or revise at least some of them.

Read more at Reuters

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