A growing list of authorities are now warning that one of the deadliest financial crises in U.S. history is set to level the U.S. economy beginning this coming New Year’s Day.
JP Morgan says that, barring a miracle in Washington, America will fall “head first into the fiscal meat grinder.”
Federal Reserve Chairman Ben Bernanke agrees, saying that paralysis in Washington will cause America to plunge off the “fiscal cliff” on January 1, 2013.
And former Treasury Secretary Robert Rubin warns that the impact of the fiscal cliff could be worse than the fallout from the 2008 financial crisis, which resulted in the worst recession since the Great Depression.
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