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As boisterous threats of the 'fiscal cliff' persist and progressive voices urge President Barack Obama to avoid falling for shortsighted solutions to illusory ultimatums, a group of corporate lobbyists and CEO's going by the name of "The Campaign to Fix the Debt" are set to unleash an onslaught of campaign ads which propose bipartisan 'compromises' to the problem, but in reality would act as a "Trojan horse concealing massive corporate tax breaks that would make our debt situation much worse,” according to a new report by the Institute for Policy Studies.
The Fix the Debt campaign, made up of more than 80 CEOs of "America’s most powerful corporations," has raised $60 million to lobby for a debt deal that "would reduce corporate taxes and shift costs onto the poor and elderly," including large cuts to social programs such as Medicare and Social security, the report finds.
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