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Market recap: Wall Street celebrated the last-minute budget deal, renewing enthusiasm for risk...
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Wednesday, January 2, 4:10 PM ETMarket recap: Wall Street celebrated the last-minute budget deal, renewing enthusiasm for risk assets and pushing the Dow to its best one-day point gain since July 2011. But opinions vary widely over how long the sugar high will last. Treasurys saw heavy selling, with 30-year and 10-year yields jumping to respective multi-month highs of 3.046% and 1.839%.
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All the while these morons don't realize that the refusing to raise the ceiling is just refusing to pay for programs that have already been passed by Congress.
Is not enough debt to make you stop and think that spending needs to be severely cut, you live on a different planet.
Maybe it's time to worry less about your portfolio gaining or losing 5%, and realize this is serious business. It will be painful for everybody, but we owe it to our children and to ourselves. Actually not so much to ourselves, as WE are the ones that ran up the credit card.
By the way, Your Dear Leader voted no for a debt ceiling increase when he was a senator.... Imagine that.
To clarify your question, the statement made by Cheney "deficits don't matter" ( he never mentioned debt, by the way) when put into proper context, was a reference to its electoral impact, and not the welfare of the country.
Of course, Huff will always leave that part out.
Again, that was what he said. He never commented on whether or not deficits mattered regarding the welfare of the country. Urban myth.
Read my first response. It's lengthy, I know, but I'm sure you can discern that I've answered your question.
Moody's say there is a chance of downgrade of US debt.
In the light of this, stock market rally of this magnitude is surprising.
Then both Senate leaders worked hard to deliver the votes of a vast majority of their reluctant members, isolating House Republican leaders, who found themselves with no way forward other than to put the bill before the House and let Democrats push it over the finish line.
“I think this is the fourth time that we’ve seen this play out, where Boehner finally relents and lets the House consider a measure, and Democrats provide the votes to pass it,” said Senator Richard J. Durbin of Illinois, the Senate’s second-ranking Democrat. “When they reach the point where their hand is forced, where there’s no other place to turn, they’ll do the right thing.”
Good hunting,
-Bill L.