Why We Build Fiscal Cliffs
Harvard Business Review
NOVEMBER 21, 2012
So now, in 2013, they're all due to expire. This product of the debt limit battle of 2011 set up a bipartisan "super committee" of legislators charged with coming up with a deal to the reduce the deficit, with $100 billion or so in Gramm-Rudman-style sequestration to follow in 2013 if the super committee failed (which it of course did).
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