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Wednesday, November 7, 2012

Budget

News                                                                                                                             
WSJ | China Gazes Over U.S. 'Fiscal Cliff'
China's main appearance in the U.S. election battle was Mitt Romney's threat to name the country a currency manipulator. But the real threat to the Asian giant is from Washington's impending "fiscal cliff."
USA Today | Strike hits Greece in bid to derail austerity plan
Tens of thousands of Greeks protested Tuesday before a crucial vote in Parliament to cut billions of dollars in government wages and benefits to qualify for European bailout funds on the country's massive debt.
Market Watch | Fitch: U.S. must fix fiscal cliff to keep AAA
President Barack Obama won't enjoy a fiscal honeymoon after winning re-election, with pressure on U.S. officials to resolve the so-called fiscal cliff and other issues in order to maintain the country's AAA credit rating, Fitch Ratings said Wednesday.

Econ Comments & Analysis                                                                                            
AEI | Crushed by debt
Americans are accustomed to experiencing solid and steady economic growth. Recessions have been the exception rather than the rule, and growth has been remarkably stable. Even our bad decades have been pretty good.