Most don’t realize that it is a lie. You’d think that investors who have billions invested would know.
I guess the only positive is that, in spite of how screwed up we are, we are still the best bet in town.
IMPORTANT: long term investors must be >>HAPPY<< that we are finally looking at the debt situation seriously. I don’t see the situation as a negative but a positive. Something that could make us an even better investment once it is sorted out for the better.
Reminder: Democrats existence is directly tied to their ability to spend (give things to their constituents). Exactly what is wrong with the Federal Government, IMO. Try minimize spending and they will fight it to the “death.”
Will Conservatives have the guts to hang in there and be willing to fight to the end.
What really I am bothered by is how minuscule the proposed cuts are. Boehner’s bill cuts $900 Billion over several years in future, and the Reid bill cuts $2.7 Trillion over 10 years but is a phony number since it includes savings by ending middle-east wars!
Then I look at the current YEARLY deficit of $1.5 Trillion and with Obamacare coming on line next year, spending will only increase.
Lastly, when Washington says they are cutting, they never mention that baseline budgeting has built in 7% yearly increases. Which means if you cut 1% it is actually a 6% increase!
Only reason stock market is doing OK is because most major companies are now doing business worldwide and they benefit from growing economies in Asia. US retail sales are abysmal.