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Nov 8, 2012 11:56 PM by Stefanie Boe

Obama to talk "fiscal cliff"

WASHINGTON (AP) - An analysis by the nonpartisan Congressional Budget Office concludes that severe spending cuts and tax increases set to kick in next year would send the economy into a tailspin.

The CBO analysis says that a protracted stalemate in Congress over averting the "fiscal cliff" could trigger a recession and send the jobless rate to 9.1 percent. President Barack Obama is scheduled to speak Friday about the potential crisis.

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