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Mon December 31, 2012
Service Economy Could Bear Brunt Of 'Fiscal Cliff' Impact
The Kansas City region has been recovering from the recession at a slightly faster clip than many other places across the country.
Unemployment and personal income exceed the national average by about half a percent.
But if Congress and the White House don’t come to an agreement before the end of the year, the relative progress will go south quickly. That’s the conclusion of a report from the Mid-America Regional Council (MARC) that examined how our region would be affected should Congress and the White House fail to come to an agreement and “fiscal cliff” spending cuts and tax increases go into effect.
The author of the MARC report, Senior Director of Research, Frank Lenk, told KCUR’s Laura Ziegler the service economy would be by far the hardest hit.
This interview aired on the December 16, 2012 edition of KC Currents.