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'Cliff' Could Push Jobless Rate Above 10%: Fitch

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The "fiscal cliff" could trigger a second recession in the U.S. economy and push the unemployment rate above 10 percent, ratings agency Fitch said on Monday. Fitch said it did not expect Congress to allow the tax and spending cuts, which have been dubbed the "fiscal cliff," to fall into place given their "far-reaching effects." The fiscal cliff would "dramatically affect demand" for transportation assets, Fitch said. In such an event, the agency said it expected airport volumes to range from flat to a 5-percent decline, and road, tunnel, and bridge facilities to see smaller declines than they did in 2008-2009. (Read More: Complete Coverage of the 'Fiscal Cliff') RELATED LINKS Current...

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