Posted on 12/21/2012 5:49:50 AM PST by SeekAndFind
Confused by what is about to take place amid the loud noise, political posturing and rhetoric that as soon as tomorrow will hit an unseen before level as Obama's plan to split the GOP has worked so well it has completely backfired and thrown any game theoretical forecasts out of the window? Here is Goldman's fiscal flowchart, which is not for faint of heart, as ever more signs point to the box with the all caps "recession" written all over it.
Fed spending is about 25% of GDP. The cliff reduces that spending by a fraction. Not enough to bring the numbers down much.
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