Washington DC Gets Even Closer To its Biggest Blunder Since The Financial Crisis
The latest talk from this weekend's Sunday shows indicate no change.
The GOP seems willing to take the cuts. There's virtually no movement.
From Ben White at Morning Money:
SEQUESTER UPDATE: VERY LITTLE MOVEMENT – President Obama heads into the State of the Union this week with very limited evidence that Republicans are inclined to accede to his demand that any sequester replacement include an equal amount of spending cuts and revenue increases through tax reform. The only slight movement over the weekend came from Sen. John McCain (R-Ariz.) on Fox News Sunday. … Asked about the issue, McCain said: “Would I look at some revenue closers? Maybe so. But we’ve already just raised taxes. Why do we have to raise taxes again?” (Never mind that hanging hope on McCain is a thin reed given the issue has always been the House) … Meanwhile, House Minority Leader Nancy Pelosi said on Fox that there have already been “plenty of spending cuts.’ She left Republicans aghast when she added: "It is almost a false argument to say we have a spending problem.”
Even folks like Bill McBride of Calculated Risk -- who has been pretty sanguine on the whole fiscal cliff/sequester story -- is now thinking that he was wrong, and that the cuts are likely to go into place.
Of course, the State Of The Union is tomorrow, and it seems very likely that this will be discussed.
And given how Washington can get a lot done in just the final days of any manufactured "crisis", there's still plenty of time.
- Exploring the world on wheels: International road trips from India
- 10 worst food combinations you must avoid as per ayurveda
- Top seeds that keep you cool all summer
- 8 mouthwatering mango recipes to try this season
- India's hidden gems where the thermometer doesn't cross 20 degrees
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market