Updated Tuesday, June 18, 2013 as of 3:40 AM ET
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Cliff Analogy Overstates Immediate Harm to Economy
Richard Rubin and Alexander Kowalski
While the U.S. Congress views the convergence of more than $600 billion in tax increases and spending cuts set for Jan. 1 as a “fiscal cliff,” the metaphor misses the economic reality of what could follow.
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