Why We Build Fiscal Cliffs
Harvard Business Review
NOVEMBER 21, 2012
Other countries sometimes have actual fiscal crises, when investors around the world (not to mention most locals) lose confidence in their government bonds and/or their currency. The interest rate on 10-year Treasuries is a mere 1.58%, the lowest in more than 50 years. In 2010, Congress voted to extend the 2001 cuts for two years.
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