On the recordJuly 16, 2012
So because of the fact that all of the various items that are included in the so-called fiscal cliff would take affirmative action by Congress to pull us back, which typically means 60 votes in the Senate, a majority in the House, a Presidential signature, my assumption is that if that does not happen, we get caught in a situation where those forecasts would be revised yet again, and it would be even more pessimistic than your testimony today.
Source
congress.gov




