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The Congressional Budget Office forecast late last month that the fiscal deficit would hit nearly $1.5 trillion this year.
Well, I fear that the fiscal lesson of the 1930s has not been learned.
And the International Monetary Fund warned this month that the "fiscal cliff" would trim roughly 4 percent from the growth rate of the American economy.
President Obama warns that the fiscal cliff could hurt Christmas spending.
Mishra (2013) said that the fiscal implications of the Food Security Act (FSA) were supposed to be significant.
The improved economic growth means that the fiscal deficit, which stood at 11% in 2010, will fall to 6.8% this year assessed on the "underlying basis".
Jindal sounded a pessimistic note on the future of America's finances, predicting that the fiscal cliff would be followed by "the fiscal mountain, after that the fiscal black hole, and after that fiscal Armageddon".
It would probably be better to call the whole thing off and accept that the fiscal picture won't change much in two years.
The IMF has said that the fiscal deficit could rise to about 9% of GDP this year.
It's worth pointing out that the fiscal cliff isn't really a cliff.
The moral is that the fiscal flaws of the euro run even deeper than people realize.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com