Recession imminent if ‘fiscal cliff’ of tax hikes, budget cuts not averted, CBO says

Recession imminent if ‘fiscal cliff’ of tax hikes, budget cuts not averted, CBO says:
The U.S. economy will hurtle into a recession if Congress fails to avert a series of tax increases and budget cuts due in January, the Congressional Budget Office said Wednesday, warning that a fiscal impasse would have consequences even more dire than previously forecast.
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