Over the Cliff We Go
If, as appears likely, America falls over the "fiscal cliff" on January 1, the country's long-run structural budget deficit will disappear, with primary surpluses beginning in 2015. So why aren't deficit hawks celebrating?.
https://prosyn.org/a4eD5g1
BERKELEY – Unless something unexpected happens, the United States’ many legislated reductions in taxes over the past 12 years – all of which have been explicitly temporary – will expire simultaneously at the start of 2013. American tax rates will revert overnight to their Clinton-era levels.