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December 26, 2012

Fiscal Cutoff Would Pinch at First, Then Get Steadily Worse

Quick action by President Obama and Congress could still help the economy escape the full impact of hundreds of billions in tax increases and automatic spending cuts set to take effect shortly after the last minutes of 2012 tick away next week. But if the deadlock in Washington persists much longer than a few weeks, the consequences will quickly mount, economists warn.

Read the Full Story Here: NY Times