By: CNBC.com News
December 10, 2012 at 12:19 PM EST
Morici: Trade Deficit, Fiscal Cliff Threaten Second Recession
The $500 billion annual trade deficit is a major drag on domestic demand, and will likely worsen in the months ahead. Together with a deal to slash the federal budget deficit that raises taxes and cuts government spending by a combined $250 billion, the trade gap could thrust the economy into recession again.
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