The non-partisan Congressional Budget Office on Thursday laid out in substantial detail the costs of not dealing with the fiscal cliff.
CBO had already estimated that going over the fiscal cliff would spark a recession, while simply voiding the tax and spending increases would add trillions to the debt. But the new study breaks down in specific detail the cost and benefits of allowing various parts of the fiscal cliff to remain in place.
It finds that unemployment would rise from 7.9 percent to 9.1 percent by the end of 2013 if the nation went over the cliff.
Former Wyoming Senator Alan Simpson, Co-Chairman of the Simpson-Bowles Commission joins Rod at 4:20pm to discuss this latest report and implementing the commission's report
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