http://www.zerohedge.com/news/2013-10-14/reid-tries-spike-hopium-bowl-obama-talks-down-optimism
Senator Harry Reid has a cunning new plan and says "we're getting closer," providing yet more hope that the US won't tip inauspiciously over the edge of the economic abyss. The latest rumored deal proposal, to be presented at the White House meeting at 3pm, includes automatic spending cuts, a framework for budget negotiations, extends the debt ceiling for 6-9 months, and funds the government through December at current sequester levels.
Doing so, as AP reports, would punt the fight over whether to lock in 2014 sequestration levels at $967 billion until December. And by extending the debt ceiling until the middle of next year, it would put the issue in the center of the heated 2014 midterm elections.
While this provided some short-term optimism, Obama was quick to remind the market that "it appears that has been some progress in the Senate in fiscal impasse negotiations and will see if it is real when he meets congressional leaders."
Comments
And the show goes on and the emperor is really in control but blames congress. Yep Keith a fabrication of fear.