Fiscal Cliff May Unbuild America

(Corrects sixth paragraph to say that Build AmericaBond issuers would see an increase in their costs. For a Bloomberg View daily news alert: {SALT VIEW <GO>}.)

Dec. 12 (Bloomberg) -- If you want a concrete example ofthe unanticipated harm that could come from the U.S. going overthe fiscal cliff, look no further than Build America Bonds, anefficient alternative way to subsidize state and localinvestments. They are part of the spending that is scheduled tobe reduced in January.