‘Fiscal cliff’ would take no prisoners if effected

‘Fiscal cliff’ would take no prisoners if effected

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Dana Pinero of New York waits in line to mail tax returns at the James A. Farley Main Post Office in New York. The package of tax increases and spending cuts known as the “fiscal cliff” takes effect Jan. 1, 2013, unless Congress passes a budget deal by then. Many economists say the economy would be hit so hard it would likely sink into recession in 2013.
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