Any deal is predicated on "cuts" occuring after the next election. We've heard this before. Both parties tell their voters what the voters want to hear and then screw them in the ass.
But of course these sillies deserve it don't they?
Investors' Dread-Letter Day: 11/23 - WSJ.com
But of course these sillies deserve it don't they?
Investors' Dread-Letter Day: 11/23 - WSJ.com
Call it Wall Street's other geopolitical driver, one played out not in Athens or Rome, but close to home in Washington.
As stock-market investors fret over sovereign-debt contagion in Europe, a Nov. 23 deadline for the U.S. Congress's so-called budget supercommittee is fast approaching. The committee is assigned to devise at least $1.2 trillion in deficit-reduction measures over 10 years, or else automatic cuts ordained by Washington's summer debt-ceiling agreement are triggered.
Friday's market action gave little hint that investors remain perturbed over Europe's debt situation, much less any happenings in Washington, as the Dow Jones Industrial Average surged by ...
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