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Separately, the FT said "Fresh stand-off looms after US cliff deal."
"Far from ending (America's) budget battles," congressional action "simply sets the stage for fresh confrontations (ahead) over the deficit and economic policy."
Tough decisions were delayed. Congress always operates this way. Hold the champagne, said Foreign Policy's David Rothkopf. House passage yesterday starts "the countdown to the next crisis."
A much greater one awaits. Congressional legislation and what's planned assure more debt and taxes.
All working Americans face tax hikes. It's the first time in 20 years. Their impact is economically negative. Average increases are as follows:
For $50,001 - $75,000 income earners: $822 annually.
For workers making $100,001 - $200,000: $1,784.
For people earning $200,001 - $500,000: $2,711.
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