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russ_watters
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The decisions that created the 'cliff' were all made in the past 4 years, but the motive behind them is mostly debt reduction, a problem decades old.mheslep said:The cliff refers to taxes rates that rise on a given day, Jan 1, and spending cuts below plan that begin on the same day. How is that event characterized as systemic, or developed over decades?
Still, IIRC, by the time Obama leaves office, he'll have most of the debt too.