8/6/12

Fiscal Cliff, Congress Is Closed Today

For those that don't know, congress has a pretty sweet deal, great benefits including five weeks off in the summer.

As the fiscal cliff looms, most congressman and congresswomen are back home - while we all work everyday, lucky to get a week off, without pay or healthcare but that's another subject.

This is hard to believe and it is both parties fault, there is middle ground to be found and a deal has to be struck.

The good news is that congress has been in session all year so far and hasn't accomplished anything so a five week recess vacation isn't too tragic.

As always, congress is likely to act just in the nick of time, probably in November or December, after the 2012 elections with some kind of short term solution, six or so months.

As for the market reaction, tough to say but suffice to say that uncertainty is what wall street hates most.

1 comment:

  1. Anonymous8/10/2012

    my husband, myself, our 3 kids, and one on the way are all
    living with his parents in a 2 br house currently. we have found a home that is only for sale for $8000, and we also want to have at least 9,000 more loaned out so we can consolidate our car
    payment into only the one payment per month- one problem.
    i am a SAHM so my credit doesnt count, and his is only 484 so we havnt been
    able to find a lender to accept us. we have tried all the major lenders, and
    still no luck as to anyone who will accept less than 500 as the score.
    ... does anyone know of one?. i cant find the link for 1st metropolitan mortgage.
    .... can anyone pot it?. i cant find the link for 1st metropolitan mortgage.
    .... can anyone post it?.
    Also see my site - http://www.badcredithomeloans.us/

    ReplyDelete