Dumbest Moments in Business

The biggest blunders of 2012.

Fiscal cliff: Back to the brink everyone

dumbest moments 2012 fiscal cliff

Really, Congress? Seriously, Mr. President?

You agree to big, blunt spending cuts that you know are a bad idea. You schedule them to take effect just when $400 billion in tax increases will kick in too.

And for what? Deficit reduction that even deficit hawks don't like.

Left in place, your man-made "fiscal cliff" would spark a recession, then cut deficits sharply but never address the real drivers of long-term debt.

You've had all year to figure out what to do about it. But you chose to wait until the very last minute to cut a deal.

Hope it's a good one. -- Jeanne Sahadi

- Last updated December 19 2012 05:01 PM ET

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