"Fiscal cliff" is already hurting U.S. economy

10/9/2012 | Economist, The

Because Democrats and Republicans can't agree on how to head off the "fiscal cliff" of tax hikes and spending cuts, U.S. businesses increasingly find it impossible to plan for growth, invest or hire, according to The Economist. "They don’t know what tax rates will be next year," the magazine notes. "They don't know whether their customers will suddenly start shopping around for cheaper groceries."

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Economist, The

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