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The American People are the Big Losers In The Cliff Deal
Posted By Washingtons Blog On January 3, 2013 @ 1:30 am In Think Tank | Comments Disabled
The “fiscal cliff” deal will raise taxes for 77% of the American public .
It will add $4 trillion dollars to the deficit over the next 10 years .
It will create a drag on the economy equal to 1% of the grodd domestic product .
It creates uncertainty in the following areas :
A) the debt limit, B) the sequestered amounts, C) cuts in entitlement spending, D) additional taxes and don’t forget E) the President needs another Continuing Resolution (CR) to keep the lights on.
Blackrock’s Larry Fink is correct when he says :
The American People are the Big Losers In The Cliff Deal.
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2013/01/the-american-people-are-the-big-losers-in-the-cliff-deal/
URLs in this post:
 77% of the American public: http://www.bloomberg.com/news/2013-01-01/senate-passed-deal-means-higher-tax-on-77-of-households.html
 $4 trillion dollars to the deficit over the next 10 years: http://thehill.com/blogs/on-the-money/economy/275095-cbo-fiscal-cliff-deal-carries-4-trillion-price-tag
 1% of the grodd domestic product: http://www.zerohedge.com/news/2013-01-02/fiscal-cliff-be-fiscal-drag-amounting-1-2013-gdp
 following areas: http://www.zerohedge.com/contributed/2013-01-02/all-facts
 says: http://www.zerohedge.com/news/2013-01-02/fair-and-balanced-and-benefitting-just-20-americans
 Puerto Rican rum makers: http://cnsnews.com/news/article/senators-got-154-page-fiscal-cliff-bill-3-minutes-voting-it
 History repeats …: http://www.washingtonsblog.com/2008/10/rum-wooden-arrows-and-the-pork-barrel-bailout.html
 ruse to fleece the people: http://www.washingtonsblog.com/2012/12/its-not-a-fiscal-cliff-its-the-descent-into-lawless-anarchy.html
 Once again: http://www.washingtonsblog.com/2012/07/regulators-sleep-with-industry-provided-prostitutes-while-they-pimp-out-the-american-people.html
 pimped us out: http://www.washingtonsblog.com/2009/10/chairman-of-the-department-of-economics-at-george-mason-university-politicians-are-not-prostitutes-they-are-pimps.html
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