Economic Effects of Reducing the Fiscal Restraint That Is Scheduled to Occur in 2013
http://www.cbo.gov/sites/default/files/cbofiles/attachments/FiscalRestraint_0.pdf
Projects that if tax and spending policies scheduled to take effect in 2013 to reduce the federal deficit are allowed to occur, growth in GDP will be just 0.5% in calendar year 2013, but if lawmakers changed fiscal policy in late 2012 to remove all provisions scheduled to reduce the deficit by 5% of GDP during 2013 then GDP would grow around 4.4% in 2013. From the Congressional Budget Office
