Why We Build Fiscal Cliffs
Harvard Business Review
NOVEMBER 21, 2012
The rate on the inflation-linked 10-year is negative 0.8% The subsequent decade of fiscal restraint started with a recession, but good economic times followed, and near decade's end, to everyone's surprise, budget deficits turned to surpluses. Deficits started ballooning again, and really blew up after the financial crisis of 2008.
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