The administration warns that automatic tax hikes set for next year could cripple the holiday shopping season and slash consumer spending by $200 billion in 2013.What? Holiday shopping season will be over by the time the new taxes take effect. Foreshadowing the Great Recession of 2013. But I digress.
The above link is the front page story in the LA Times today.
But the White House report warned that "the hard-earned rise in consumer confidence will be at risk if the middle-class tax cuts are not soon extended with a minimum of political drama."
