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Ackerman: History suggests grand bargain before ‘fiscal cliff’

The “fiscal cliff,” a combination of tax increases and severe spending cuts scheduled to kick in next year, is a product of multiple deceptions. Both the expiration date on the Bush-era tax cuts and the trillion-dollar “sequesters” that were enacted as part of last year’s debt-ceiling deal were designed to cover up an overarching problem – the country’s out-of-control debt.

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