White House: We have seen progress on fiscal cliff

  • Republicans recognize need for more revenue
  • We’re not there yet; top tax rate still disputed
  • Would be deeply irresponsible for Republicans to extract a political price for raising debt limit (he didn’t say that with a straight face, did he?)
  • Ceiling should be raised without drama

7 Comments

  1. This is a political “crisis” created by leaders who can’t seem to lead unless they have some kind of “crisis” to galvanize public opinion. We don’t need any “grand bargains” here. Above all, we don’t need the crew in Washington to make a bigger mess solving this “crisis” than they did creating it in the first place. We need them to kick the can down the road and move on. In less than 10 years from now the US will be energy self-sufficient — thanks to shale oil and gas, no thanks to Barack’s DoE — and a net exporter of goods and services. All we need from Washington is to keep cool, make minimal adjustments, and go back to sleep.

  2. Interesting how any indication of openness to negotiate revenues led to a flat out ‘not interested in cutting spending’ from the WH. Seemingly when one side concedes the opposing POV someone on the opposing side immediately steps in with a stupid statement of what his/her side will NOT do.

    Not very constructive negotiating at all. Disgusting is to mild a word for this charade of photo-ops.

  3. I’ll bet the White House staff has also seen Bigfoot and Nessie!
    And the E/$ is up 40 pips since Kathy Lien said to short it on CNBC.
    What a rip.

  4. hello Jamie, tomorrow is month end. how is USD likely to behave?

  5. Haven’t seen any of the models put out by the banks yet. Typically when markets in one region outperform another, the currency of the out-performer is sold and the under-performer bought to bring benchmarks back into line. I’m guessing Europe may have outperformed the US this month.

  6. The s called fiscal cliff is just a big Obama retribution scheme and in the end higher taxes for all.That is for all that pay taxes.expect a carbon tax to be coming also as well as a value tax that will call something else.Long term I expect a lower dollar ,higher inflation and higher gold prices.Bye ,Bye Miss America pie.

  7. Austerity all round. How did these guys pull this off?

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