Avoiding a New American Recession

From Project Syndicate RSS-Feed Fri Nov 30 2012, 05:50:05

The US may be headed for a recession in 2013, even if the country avoids going over the "fiscal cliff." But a gradual phase-in of an overall cap on tax expenditures, combined with reform of entitlement spending, could achieve the long-run fiscal consolidation that America needs without risking a new recession.

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