Wednesday, June 1, 2011

Yahoo Daily Ticker - Technical Default

Highlights:
  • We've missed debt ceilings before
  • Game of chicken
  • Republicans won't cut as much as they're saying
  • Serious proposal to balance budget only got 7 Republican votes
  • Obama's budget didn't get a vote in the Senate
  • Politicians afraid of losing votes, so they do nothing
  • Risk to the economy?  Yes and No.
  • Watch the bond market



Debt Ceiling Vote a “Political Sideshow”, Mish Says: Real Issue Is “Govt. Spending Run Amok

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