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BofA Merrill Lynch Global Research – A US Economics Report – Monday, 03 December 2012

One dangerous thrill ride

We’ve written about this before, but it bears repeating: one of the most dangerous ideas circulating in Washington is that it is okay to go over the cliff temporarily. This increasingly popular view is that going over the cliff will make it possible to strike a better deal. Here we discuss that argument and why it is so perilous. The bottom line: threatening or actually going over the cliff will likely do serious damage to economic and market confidence. What some people are calling a “bungee jump” could cause an economic “heart attack.”

 

 

Read the full report here.