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The Boston Globe


Limited deal does little to ease deficit pressures, analysts say

WASHINGTON — The Obama administration on Tuesday heralded the hard-fought deal to avert the so-called fiscal cliff as a bipartisan breakthrough that “cuts the deficit and reduces the debt as a share of the economy over the next five years.”

But unless Congress and the White House allow the mandated cuts to proceed in two months or identify more revenue, the net effect will be to increase the deficit over the next decade — by nearly $4 trillion, according to one official estimate. And the pared-down package will do little to solve the government’s long-term fiscal challenges, according to current and former government financial managers.

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