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Lagarde says 'fiscal cliff' threatens US supremacy

Submitted by emalvini on Sun, 12/09/2012 - 14:58
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Lagarde says 'fiscal cliff' threatens US supremacy

07 DECEMBER 2012

AFP - IMF chief Christine Lagarde said Friday the looming "fiscal cliff" in the United States threatens the country's international supremacy and the fragile global recovery.

In an interview with BBC World News, Lagarde noted the US fiscal cliff, a combination of severe tax increases and spending cuts due in January, would probably wipe out growth in the world's largest economy.

http://www.france24.com/en/20121207-lagarde-says-fiscal-clif...


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One good thing about falling off the fiscal cliff...

Submitted by ralph hornsby on Sun, 12/09/2012 - 15:02.

They will cut Department of Defense spending by 10%. It was on one of the Sunday morning shows this morning...can't remember which one.