Congressional Budget Office Warns of Recession in 2013

Congressional Budget Office Warns of Recession in 2013

DailyFinance.com

Filed under: Taxes, Money and Politics

The nonpartisan Congressional Budget Office is warning that if $607 billion in tax increases and spending cuts all hit as scheduled -- roughly the beginning of next year -- the U.S. will likely go into recession in 2013.

This is the "fiscal cliff" you may have heard about. But while economists, the Federal Reserve, and members of Congress have been warning about its approach for some time, the CBO's report is the first detailed analysis of its potential effects.

A Recipe for Recession

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Congressional Budget Office Warns of Recession in 2013 originally appeared on DailyFinance.com on 2012-05-24T14:55:00Z.

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