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With billions of dollars in defense and domestic spending cuts set to kick in March 1, Rep. Jim Himes said he fears the odds are slim for an 11th-hour deal that would postpone or offset the sequester.
Venture capital activity in Connecticut has been relatively strong in 2012 despite the economy and a longer-than-expected wait for new federal regulations that will make it easier for private companies to raise capital, analysts say.
As signs pointed toward at least a partial solution to the oncoming “fiscal cliff,” financial experts cautioned that even with a grand bargain, U.S. economic growth over the early months of 2013 would likely continue to be in the 1 to 2 percent range.
Democrats swept Connecticut’s senate and congressional races as both parties defended their turf on Election Day, leaving the makeup of the federal and state government largely unchanged after an estimated $6 billion in cumulative campaign spending.
With the infamous fiscal cliff now less than three months away, Congressman Jim Himes on Sept. 27 told a group of financial industry representatives that he thinks there is a seven in 10 chance that Congress reaches a “grand bargain” akin to the Simpson-Bowles plan released in late 2010.
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