UPDATE 3-U.S. CBO sees worse economic wreckage from fiscal cliff

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UPDATE 3-U.S. CBO sees worse economic wreckage from "fiscal cliff"

Wed, Aug 22 16:06 PM EDT

* Tax hikes, spending cuts to shrink GDP 2.9 pct in 1st half 2013

* Failure to avoid fiscal cliff could cost 2 million jobs next year

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