April 7, 2012
ECONOMY: Can The USA Save The World? “There’s a potentially big fiscal headwind coming and Congress is really going to have to face the music.”
UPDATE: A reader emails:
The yearend fiscal wall is a “known known”. What’s NOT known is how the federal government will look after election day. Will Harry Reid have a last chance to roll a hand grenade into a GOP White House? Will a lame duck Obama let the economy hit the wall, handing the GOP an economic disaster? Will Boehner look to sabotage a second Obama term? Global capital markets have no way of knowing what incentives the executive and legislative branches will have.
And by the way, it’s even-money the US hits another debt ceiling just as the fall campaign goes into overdrive.