The most important cloud on the horizon is the large tax increase that will occur next year ...

Financial Times:

Looking to the future, there are strong headwinds that will make it difficult to achieve a robust recovery. Higher petrol prices will reduce real incomes and cut spending on domestic goods and services. The weaknesses in many European economies will lead to reduced US exports to those countries.

But the most important cloud on the horizon is the large tax increase that will occur next year unless legislation is passed to block it. . .

Obama’s tax hikes threaten a new US recession