Fiscal cliff may not be the biggest long-term challenge
It’s not all about the fiscal cliff. If no deal on the budget is reached by the end of the year, huge tax increases and spending cuts will come into effect Jan. 1. Economists say those measures could push the United States back into recession. Yet Bill Stromberg, director of global equity and global equity research at Baltimore, Md.-based T. Rowe Price Group, says that the cliff shouldn’t be investors’ main focus.