Fiscal Cliff" Could be Much Worse Than Predicted, Economists Say

Monday, Oct. 29, 2012

Economists at the International Monetary Fund and academic institutions say damage by the "fiscal cliff" to the U.S. economy could be far worse than the Congressional Budget Office predicted. IMF research indicates that when interest rates are low, every $1 of deficit reduction drains as much as $1.70 from the global economy.

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