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Fiscal cliff already killing jobs
T

he double whammy of tax hikes and spending cuts scheduled to hit at year's end, known as the "fiscal cliff," has already wiped out a million jobs, according to a report scheduled to be released Friday by the National Association of Manufacturers. The group says the economy will be hit far harder if Congress fails to avert the deadline, which will trigger $400 billion in tax hikes and $100 billion in automatic cuts to defense and social spending. That, the report says, would destroy nearly 6 million jobs through 2014 and send unemployment to almost 12 percent.

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