“The unprecedented belt-tightening known as the fiscal cliff that looms over the United States could at the very least cut world growth in half in 2013, Fitch Ratings said on Thursday.
The fiscal cliff — a double whammy of tax increases and spending cuts totaling about $600 billion — could tip the United States and possibly the world into recession, Fitch said.
“The U.S. fiscal cliff represents the single biggest near-term threat to a global economic recovery,” the ratings agency said a research note released in London.”
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