“That would set up a high-stakes showdown between the two chambers and risk a stinging rebuke from financial markets that are due to open in Asia in a few hours.”
What a joke.
The markets gyrate if Bernacke burps or Geitner misplaces his acne medicine. Any short term movements will be forgotten in a few weeks.
Everyone knows the long range effect on the markets depends on putting the federal monster on a huge diet. Otherwise, we will be Greece X 1,000.
The problem is the Dims don’t want to cut spending and the Gutless Old Party doesn’t seem to be up for the fight.
the latest tweet is that the house will have an up or down vote at 9pm. with no changes.