(CNBC) -- CNBC.com reports that CNBC's Larry Kudlow "thinks the looming 'fiscal cliff' has already started to do serious damage to the economy, and worries the damage could get much worse, with Congress ultimately driving Corporate America right to the edge." According to the story, the threat of the fiscal cliff, "or confluence of tax hikes and spending cuts that could go into effect as soon as January 2013," has hurt new orders for durable goods or long-lasting manufactured goods, which has dropped to its lowest level in 3-1/2 years.
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