Consumer confidence continued to fall as the nation gets closer to the deadline for the fiscal cliff. The twelve month outlook and expectations of consumers also fell sharply in recent surveys. Currently, Republicans and Democrats are far apart in negotiations relating to tax rates and spending levels. One proposal would increase the highest tax rate to 39.6%.
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http://www.foxbusiness.com/economy/2012/12/07/us-consumer-sentiment-sinks-in-early-december/
Jim Sutliff