Don't Do It!

10.26.12

The Price of Jumping the Fiscal Cliff

At the American Action Forum, Doug Holtz-Eakin (ex director of the Congressional Budget Office) has computed the economic impact of each of the seven different policy actions collectively known as "the fiscal cliff."

All told, we are talking about a shock to GDP of -5.2% -- enough to jolt a slow-growing economy back deep into recession.