Business & Money

The summer of 2011 is not a time any of us would like to revisit, economically speaking. It was during this time that the European Debt Crisis had reached it’s most volatile stage, with many believing that a Greek exit from the union was a foregone conclusion, sparking fears of a messy dissolution of the globe’s largest economy. On top of that, the world began to seriously doubt the American government’s commitment to paying its debts, as Republicans in Congress refused to raise the statutory limit on how much debt the Treasury Department can issue unless President Obama agreed to significant reductions in federal spending.

Unfortunately, the result of that battle was a deal to raise the debt ceiling to allow for another year and a half of full government operations, with significant spending cuts to go into effect this month. This in part created the so-called fiscal cliff, which was postponed by…

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