13 November 2012
One of them is the possibility of the U.S. to deal with the “fiscal cliff” with its automatic tax hikes and sharp cuts in government spending.
And, of course, it will affect us as well.
Moreover, the full comeback to the balanced budgets has been already postponed by a year. According to Flaherty, the deficit will rise to $26.2 billion, which is $5.1 billion more than noted in his March budget. In the end the budget surplus is expected only in 2016-17 – a year later than predicted earlier.