The Washington Post Loses It on the Fiscal Cliff

The headline of a front page Washington Post article warned readers:

"Recession imminent if ‘fiscal cliff’ of tax hikes, budget cuts not averted, CBO says."

Nope, that is not true as all faithful BTP readers know.

The Congressional Budget Office (CBO) projections for a recession are not based on Congress taking action before January 1 when the tax increases and spending cuts first take effect. The CBO projections are based on the assumption that Congress never does anything to offset the sche...