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Sunday, September 18, 2011

Designed for deadlock - TheHill.com

Designed for deadlock - TheHill.com
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  1. RAYLOKESeptember 18, 2011 at 11:47 AM

    The ratings agencies warned that a deal to cut $4 trillion would only be a good start to averting an eventual downgrade of our bond rating, but negotiators didn’t come close. The stock market lost all its gains for 2011 in the longest string of low closings since 2008 this week because bleak economic news — a drop in consumer spending, worse-than-projected 1.3 percent growth and fears of continued high unemployment as the July jobs numbers are released this Friday — was compounded by the federal government once again refusing to truly attack its debt. Experts know the Super-Dupe Committee won’t change this equation, and a true fix is at least two years away.

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