Even the threat of the cliff is having a depressing effect on business decisions.

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Since 2008, revenues have fallen increasingly below the 18% average as the revenue-depressing effect of recession and stagnant recovery set in.

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High gas prices I think had a depressing effect on consumer confidence.

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Now, this is actually better than expected, considering the severe storms all along the East Coast are estimated to have had a depressing effect on the numbers.

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Also, because the depressing effect of spending cuts will already deliver a major blow to the sagging economy, broad-based tax increases (like letting all Bush tax rates expire) will almost guarantee a double dip recession in 2013.

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