Friday, October 12, 2012

Peter Schiff: Much Larger Fiscal Cliff Looms Over US Economy

Money News
October 10, 2012

The year-end fiscal adjustment shouldn’t raise as many red flags as it is, as the country’s chronic health issues are much more dangerous, said broker, author and financial commentator Peter Schiff.

At the end of this year, tax breaks are scheduled to expire at the same time automatic cuts to government spending kick in, a combination known as a fiscal cliff that could send the country into a recession next year if left unchecked by Congress.

The nonpartisan Congressional Budget Office estimates that the economy could contract by 0.5 percent next year if the economy rolls over the cliff, while the International Monetary Fund has said such an event threatens the global economy.

Read the entire article

No comments:

TERROR CAMPS:The Global Agenda

TERROR CAMPS:The Global Agenda
Watch Full Length Movie Here

Libyan Violence: Globalist Plan for the Domination of Eurasia

Left-Right Paradigm and the Coming Election

More White House Propaganda... "The Unemployment Rate is Only 8.25%!!!!"

Defense Cuts Harmful to Economy or National Security?

The Obama Catholic Connection

The Globalists Plan for a Coming World Currency

Four Mega Banks Dubbed "The Four Horsemen of U.S. Banking"

New World Order Rising-Documentary

New World Order Rising-Documentary
Watch Here

ObamaCrimes.com

ObamaCrimes.com
Find out Why Here...

My Other Passions

My Other Passions
Aikido and Iaido