New economic data isn’t pretty. And Larry Kudlow fears it’s going to get much worse.
He thinks the looming “fiscal cliff” has already started to do serious damage to the economy, and worries the damage could get much worse, with Congress ultimately driving Corporate America right to the edge.
The fiscal cliff, or confluence of tax hikes and spending cuts that could go into effect as soon as January, 2013, has generated bickering among Republicans and Democrats alike, with both sides all but refusing to address the issue until after the election.
And Larry Kudlow firmly believes months of negotiations are still needed to resolve the “fiscal cliff.” That doesn’t bode well since there are only 3 months left in the year.