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Following House passage, Moore added it's only "the first act." It's a pathetic tepid one. It conceals planned hardball 2013 legislation.
Dean Baker contributed his own Guardian article. He headlined "Obama's tax threshold concession bodes ill for debt ceiling talks," saying:
Congress and Obama ignored Congressional Budget Office (CBO) and other forecasts. They predict higher tax rates and large spending cuts risk tipping America's fragile economy into recession.
John Williams and other responsible economists say America's already in one. Its economy is in worse shape than acknowledged. Deeper recession is likely. Protracted Main Street Depression already affects most ordinary households.
Fed policy doesn't stimulate economic growth. Tax increases, planned budget cuts, and force-fed austerity assure much tougher times ahead.
Financial Times (FT) contributor Martin Sandbu said "Small deal will deliver more subpar growth."
"More economic damage" was caused by Washington's inability "to decide and stick to policy. This uncertainty, which leaves businesses preferring to hoard cash rather than invest, is the chief cause of the disappointing US performance in the past two years.""The folks in Washington" legislated more of the same.
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