• U.S. Budget Deal Is Sealed

    The Senate overwhelmingly passed a budget deal to avert the fiscal cliff that would raise income-tax rates, maintain unemployment benefits to millions of people and extend a number of tax breaks for families of modest means; it now moves on to the House.

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    Signs of Negative Economic Impact

    Even if lawmakers avoid most of the fiscal cliff's $500 billion in tax increases and spending cuts, the risks to the U.S. economy have risen.


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