Consumers began to feel less optimistic at the end of the year when it appeared congressional Republicans and President Barack Obama were at an impasse over sharp spending cuts and tax increases.Obama reached a deal with Republicans on Jan. 1 that kept most Americans from seeing higher income taxes. But they postponed decisions on spending cuts and raising the nation's debt limit until later in the year. And they allowed the Social Security tax cut to expire.
US Consumer Confidence Plunges On Higher Taxes
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