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As the White House and Congressional Republicans square off over tax increases and spending cuts, an economics professor at Drury University in Springfield says leaders need to act quickly to keep the country from falling into another recession.
Dr. Steve Mullins tells KTTS News, if America does fall off the fiscal cliff, it could create conditions similar to several countries in Europe that are finding it hard to borrow money.
Any tax increase and spending cuts should be imposed slowly to give the economy time to absorb the changes.
And while the debate has focused on higher taxes for the rich, Mullins reminds us that everyone will pay more if the Bush era tax cuts expire on December 31st.
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