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fiscal cliff - definition and synonyms

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noun
  1. From our crowdsourced Open Dictionary
    the tax increases and spending cuts that will have to take place in the US at the end of 2012 when the Budget Control Act of 2011 comes into effect

    Even as Mr Obama and Mitt Romney made their last pitches to voters, the investors called on Congress to do a deal to avert the "fiscal cliff".

    Submitted from United Kingdom on 05/11/2012
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