Thread: Economics The Fiscal Cliff Approacheth
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Old 08-23-2012, 09:59 AM   #39
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Quote:
Originally Posted by Direckshun View Post
New CBO projection: if the fiscal cliff hits, we are in another recession, and lose two million jobs.

http://www.reuters.com/article/2012/...87L0JV20120822
Massive U.S. government spending cuts and tax hikes due next year will cause even worse economic damage than previously thought if Washington fails to come up with a solution, the Congressional Budget Office warned on Wednesday.

If "massive" cuts in government spending can cause a recession, I'd argue that the government is spending too much to begin with and is far too involved in our economy that it should be.
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