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CBO: Debt poses greater long-term economic threat than fiscal cliff

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Lawmakers wrangling over “fiscal cliff” negotiations may have a bigger problem on their hands over the next decade, as the current rate of federal spending could drive the United States into a fiscal crisis, according to the Congressional Budget Office. The CBO issued this warning in a little-noticed report on the effects of the fiscal cliff that was released just before David Petraeus resigned...

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