Why We Build Fiscal Cliffs
Harvard Business Review
NOVEMBER 21, 2012
After that the Bush administration and a Republican-majority Congress decided in 2001 to effectively set paygo aside. In 2010, Congress voted to extend the 2001 cuts for two years. And there's the Budget Control Act of 2011. Plus, it turned out there was a recession in the works. So now, in 2013, they're all due to expire.
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