We Went Off the Fiscal Cliff

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Congress blew past the deadline for averting historic tax hikes as the ball dropped and Americans rang in 2013, but lawmakers were making seemingly steady progress toward a deal that could contain the damage in the days ahead.

In total, $600 billion in tax hikes and spending cuts are scheduled to hit in the new year.

The tax hikes, combined with the spending cuts, could trigger another recession if they are not dealt with soon, economists warn.

Read more at Fox News

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