Will the “Cliff” Steal Christmas?
Now that the political lines for the next couple of years are clear, the so-called ―fiscal cliff‖ stands first on the agenda for President Obama and the existing Congress. The matter is urgent. Unless something is done between now and year-end, some $660 billion in automatic spending cuts (sequestration) and tax hikes will almost certainly toss the economy into recession. Click here for a detailed synopsis of the ongoing Fiscal Cliff debate authored by Milton Ezrati, Partner, Senior Economist and Market Strategist at Lord Abbett.