Bloomberg BRIEF’s Guide To The Fiscal Cliff Is The Best Summary That’s Been Done Yet

Cliff

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Bloomberg BRIEF — Bloomberg’s economics newsletter has put together a comprehensive slide deck about what happens if and when we go over the fiscal cliff .It’s scary.

Basically, consumers are not prepared, no matter what scenario emerges from Washington.

But there are also many different outcomes, depending on the knock-on effect for the economy that scenario would entail.

Read on to see how bad it could get.

Huge thanks to Bloomberg BRIEF for permission to run their feature.

ALSO: Catch Tom Keene interview with the presentation’s author Joseph Brusuelas today at 5 pm >

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title=”Going over the cliff will likely cause an instant recession”
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title=”For instance, the expiration of the Bush tax cuts will blow out 1.3 per cent of GDP”
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title=”On the other hand, extending everything set to expire would boost GDP by 2.9 per cent”
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[slide
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title=”Eliminating tax breaks for the rich — a lynchpin of President Obama’s — will barely affect the economy”
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title=”We are again approaching the debt ceiling”
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title=”Depending on how the fiscal cliff is resolved , there will be different knock-on effects to the economy from new income levels everyone will see”
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title=”While economists disagree over how large a multiplier the country will see — even when they refer to the same outcomes — it is not likely to be small”
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[slide
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title=”In any event, here are Bloomberg’s multiplier tables — for GDP growth rate…”
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[slide
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title=”And how much of a change that new rate would represent”
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[slide
permalink=”and-heres-our-ultimate-guide-to-the-fiscal-cliff-14″
title=”And here’s our ultimate guide to the fiscal cliff…”
content=”The last thing you’ll ever need to read about it >
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