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2000px-Pictograms-nps-sledding.svg The day after November’s election, The Boston Globe‘s lead editorial said, essentially, “Now that you’ve won, Mr. Obama, you should immediately implement Mr. Romney’s fiscal policies.” Punditry began to speak incessantly about the deficit, and the “Fiscal Cliff”. Few mentioned that the so-called “cliff”, far from being a fact of nature, was a creation of this Congress, and could be eliminated by them with a vote, if they so wanted. We have been assured that the “cliff” is a looming disaster, that entitlements were to blame, and that belt-tightening would be necessary all around – except for millionaires, who MUST NOT be denied their tax breaks, or the economy would crumble all around us. Another phrase often heard has been “Grand Bargain” – a deal President Obama is supposed to strike with House Republicans so we don’t all “fall off the cliff”?

What is the “Fiscal Cliff”, really? Is…

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