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Though the worst predictions about the sequestration -- such as severe unemployment benefit cuts, hour-long waits at airports, and four-hour waits at border crossings -- have not come true, other sectors have not been spared. Learn more about the impact of sequestration from two economists.

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Defense is one of many areas facing cuts in Congress' expected sequester. Economics professors debate what this means for your budget.

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As the federal deficit climbs, Republicans and Democrats can agree on one thing: the federal tax code needs revamping. But how this gets done is up for grabs. What's the reality behind the rhetoric of closing loopholes and raising revenue? We examine the issue.

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Fed Chairman Ben Bernanke warns about a so-called fiscal cliff the nation is facing on January 2. We take up the automatic budget cuts some think could lead to a new recession.

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Last week the Dow hit a three-year high and the unemployment rate dropped for the fifth straight month. Has the economy turned the corner? We turn to some Chicago economists for answers.

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