The budgetary black holes that lie beyond America’s fiscal cliff

Austerity may be the last thing the US economy needs right now, but the country’s debt is $16tn. It is more than a decade since the US last ran a budget surplus – and as negotiations to avoid America’s fiscal cliff sailed past their new year deadline on Tuesday, it seems the country will have to …

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The budgetary black holes that lie beyond America’s fiscal cliff

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