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UMD Study: Fiscal Cliff Could Trigger Deep Recession, Fear of Cliff Has Cut GDP Already

By Guest PostOctober 30, 2012Economyamerica, analysis, congress, debt burdens, defense spending, economic crisis, economic environment, effect, employment level, Europe, federal spending, financial crisis, fiscal cliff, fiscal shock, gdp, government policy, inforum, interindustry forecasting project, jeff werling, maryland, multiplier, nation, prediction, recession, sequestration, tax cuts, tax increase, tax reform, u.s economy, university

COLLEGE PARK, Md. – The so-called “fiscal cliff” has already begun dampening the U.S. economy – even before it officially kicks in – and by year’s end will have cut 2012 GDP an estimated six-tenths of one percent, says a new study conducted by researchers at the University of Maryland’s Interindustry Forecasting Project (Inforum).

The study, called Fiscal Shock: America’s Economic Crisis, is one of the first to look beyond the first year effects of the combined federal spending cuts and tax increases. It projects an escalating impact into 2014 and beyond, as “multiplier” effects of fiscal contraction kick in. (more…)

Russia Asks China Not to Clone Su-35 Fighters

By Guest PostMarch 7, 2012Economy, Weapons30 millimeter cannon, aircraft, bombs, celestial empire, China, chinese counterfeits, chinese fighter j 10, defense, defense spending, gdp growth, growth rate, intellectual property, kommersant, missiles, moscow, multi role, national peoples congress, nato flanker e, prime minister, russia, russian su 27, russian technology, su 35 fighter jets, voice of russia, wen jiabao

Russia was ready to sign a contract with China to supply 48 multi-role Su-35 fighter jets. However, Russia put forward a condition to the Celestial Empire. Moscow demands guarantees that the aircraft will not be further copied for sale.

According to Kommersant, the amount of the expected transaction could reach $4 billion, or approximately $85 million per unit. If the contract is signed, it will be the largest arms contract of the last decade. (more…)

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UMD Study: Fiscal Cliff Could Trigger Deep Recession, Fear of Cliff Has Cut GDP Already

Russia Asks China Not to Clone Su-35 Fighters