The markets are preparing for the vote later today. This is biggest vote since TARP was passed. This vote will be in regards to John Boehner’s debt reduction and debt ceiling bill. If it does not pass, the markets will panic sell as it would be unlikely the debt ceiling would be raised before the August 2nd deadline. Stocks started the day with an optimistic push but have since fallen back to the flat line. Technology stocks like AAPL, GOOG, AMZN and IBM are leading, along with banks like GS and JPM. How do you play this vote? Take the seven day free trial to the Research Center and Intra Day Stock Chat. Join the pros and get the calls the hedge funds get, exactly as they get them. Profit with the pros.
A pair of key Democratic lawmakers from Maryland are calling on Republican leaders to agree to a debt reduction plan that includes a balance between spending cuts and tax increases.
The President, speaking on the budgetary impasse, suggested that corporations and the rich pay their fair share. This old saw of the class warfare guerrillas has a nice ring to it…but just how much is enough to rise to the level of “fairness”? And are they paying a smaller share or a bigger share than 10 years ago?
At a press conference this week, President Obama spoke about what’s at stake in this campaign — creating jobs, rebuilding the economy, educating the next generation.
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Washington, DC — US Senate Republican Leader Mitch McConnell made the following remarks on the Senate floor Tuesday regarding the President’s request for a debt ceiling increase. He also renewed his invitation to the President to come to the Hill and meet with Senate Republicans about what can be accomplished in the debt reduction talks:
President Obama spoke to reporters at the White House for about 40 minutes Friday about ongoing negotiations to raise the debt limit and urged Republicans to join him in compromising on a debt reduction deal that would also raise the debt limit before August 2.
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