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Obama Caves: saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.

 
DoorBert

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10/08/2013 09:09 AM

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Obama Caves: saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.
A few faint glimmers of hope have surfaced in the standoff over the government shutdown, both in Congress and at the White House, with President Obama saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.

Separately, a Senate aide said Republican Senator Rob Portman, an Ohioan influential on budget issues, was floating a plan to cut federal spending and reform the U.S. tax code as part of a broader deal to reopen shuttered government agencies and raise the government's debt ceiling.

While Portman's initiative may or may not gain traction, most lawmakers believe that a budget deal like it will be necessary to end the stalemate.

[link to www.chicagotribune.com]
GLP Angel

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10/08/2013 09:10 AM

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Re: Obama Caves: saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.
bumpbump
But now abideth faith, hope, love, these three; and the greatest of these is love.
DoorBert (OP)

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10/08/2013 09:10 AM

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Re: Obama Caves: saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.
The first kinks in the Democrats armor were exposed late-Monday when it appeared that a schism in negotiating tactics between the White House and Senate Democrats emerged. Comments made by advisors close to President Barack Obama suggest that the executive branch is open to a short-term extension of the debt limit, likely to around the Thanksgiving holiday; while Senate Democrats want to make no such compromise.

The mere whiff of the scent that a default could be avoided has investors surreptitiously putting capital back into higher yielding FX, specifically the “carry trade,” with the Australian and New Zealand Dollars boasting respectable gains against the safe havens, the Japanese Yen and the Swiss Franc. For all intents and purposes, the US Dollar is middling along only down -0.05% against a basket of the Australian Dollar, the British Pound, the Euro, and the Japanese Yen; hopeful, positive US fiscal developments are allowing the greenback to at least tread water here.

[link to mrtopstep.com]
Anonymous Coward
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10/08/2013 09:10 AM
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Re: Obama Caves: saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.
Total circus.
DoorBert (OP)

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10/08/2013 09:14 AM

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Re: Obama Caves: saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.
For The First Time On Record, The US Government Is 'Riskier' Than US Banks

[link to www.zerohedge.com]
DoorBert (OP)

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10/08/2013 09:21 AM

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Re: Obama Caves: saying he would accept a short-term increase in the nation's borrowing authority to avoid a default.
No way US would allow debt default? Don’t bet on it

[link to www.cnbc.com]

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