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Election Reflection: Economy to continue suffering from political brinksmanship

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Thursday, November 08, 2012

The decline in share prices when the market opened the day after the presidential election reflects the economic outlook of the post-election period. A politically divided Washington indicates that little progress will be made on key policy issues such as the “fiscal cliff,” automatic spending cuts and tax hikes scheduled for January 2013. Inaction will lower GDP by a few percentage points instantly, and other major bills impacting energy, transportation and agriculture will langui...

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