fiscal cliff
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The Fiscal Cliff: An Opportunity for a ‘Deceptive Economic Theory’

Jan 2, 2013
Economists predicted the fighting would last six months when World War I broke out in 1914. Wars were too expensive to be sustained, and the approaching fiscal cliffs would soon enough force the nations involved to negotiate a peace treaty. But they didn’t, because those governments simply printed more money, Michael Hudson writes in the first of a series at CounterPunch.

Congress Rejects Own Pay Raise

Jan 2, 2013
By casting their ballots in favor of a deal that would avert the so-called fiscal cliff early Tuesday morning, senators overwhelmingly blocked a pay increase for themselves and members of the House that President Obama recently approved via an executive order.