If you want to understand the fiscal cliff—and what it’s likely to mean for the fedral budget going forward—it helps if you understand the doc fix. The doc fix is just one relatively small part of the fiscal cliff. But in many ways, writes Senior Editor Peter Suderman, it is the fiscal cliff in miniature. That’s because the doc fix is perhaps the ultimate example of a poorly conceived temporary budgeting measure that's not really temporary at all. And its history suggests what’s in store for the federal budget—and the economy—in our post-fiscal-cliff future.
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