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CBO: Deficits could still top $9 trillion over next decade after ‘fiscal cliff’ deal

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Taxes may be going up on wealthier Americans, but federal deficits could still exceed $9 trillion over the next decade after the enactment of the “fiscal cliff” legislation passed by Congress, according to a Congressional Budget Office report released Friday. Assessments of the fiscal cliff deal’s deficit impact depend on the basis for comparison. Compared to what would have happened if...

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