Now we will hear a lot of the Fiscal Cliff in the US. Automatic tax increase and deficit cut measures will trigger in january and all the extended benefits for unemployment will end in december. This Fiscal Cliff will cause the U.S. economy sink in recession.
IMF annual review of US economy: Link
failure to reach an agreement on near-term tax and spending policies would trigger a severe “fiscal cliff” in 2013, threatening the recovery, she added. Lagarde made these remarks after joining the final policy discussions.
The IMF expects U.S. growth to remain modest during the next two years, constrained by housing difficulties, the expiration of fiscal stimulus measures, and continued low global demand, particularly in Europe. Growth is projected at 2 percent in 2012 and about 2¼ percent in 2013.
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