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AZ Central

US economy could handle short fall over 'cliff'

December 26, 2012

WASHINGTON -- The economic threat that's kept many Americans on edge for months is nearing reality -- unless the White House and Republicans cut a budget deal by New Year's Day. Huge tax increases. Deep cuts in domestic and defense programs. The likelihood of sinking stock prices, reduced consumer spending and corporate layoffs. The risk of a recession within months.

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