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Macro Viewpoints

Forcing Democratic Spending Cuts

The resolution of the fiscal cliff did little to address the primary issue of governmental spending and increasing deficits. The end result was an easy sound bite for the President, “I promised not to raise taxes on working Americans, continued the extended unemployment program and forced the wealthy to pay their fair share.” I was surprised the republicans gave in so easily as I read the details of the resolution, primarily because the sequester and debt ceiling issues were …