Tax hikes and spending cuts will hobble but not kill economic growth in 2013, according to a new report by TD Economics.

The forecasting unit projects the economy will grow at a sluggish 1.9% growth rate, below the 2.2% average pace of growth in the first three years of economic recovery since the Great Recession. The good news is that economic activity is expected to accelerate as the year goes on, with 2014 projected to grow at a more robust 2.8%.

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