According to a repott in yahoo Finance, you can pick almost any horror film and chances are, somewhere in it a character that was presumed dead makes a dramatic, surprise return looking to hurt anyone in its path. Even though being scared is exactly what we paid for, we still scream and squirm in our seats. Fun stuff if you're into that sort of thing.
Well guess what, movie fans? The sequel to last summer's debt ceiling showdown in Congress is coming to theaters everywhere this fall, and the early reviews say it will be even bloodier than the first.
"If there is another big debt ceiling showdown before the election it is going to have a big impact," says David Chalian, Washington Bureau Chief at Yahoo! News in the attached clip.
While it is still too early to pinpoint the precise day that the Treasury's checking account runs dry, everyone in Washington knows the monster is lurking and is likely to show itself in November. Even President Obama eluded to the need to avoid putting the nation through the same ordeal that ultimately cost us our AAA-rating.
Chalian points out a few issues that make the exact timing of our money drought hard to predict.
First, the pace of federal spending and tax receipts can be jiggered a bit, but to put off until at least November could be tough. And as much as he notes that the whole culture of last year's singular focus on debt and deficits has changed, he says there is now complete recognition from everyone that they don't want to have another showdown debate.
"I will predict that a lot of people on both sides of the aisle are trying to figure out the accounting in such a way that perhaps that discussion and vote doesn't take place til after the election," says Chalian….
Read all about it at http://finance.yahoo.com/blogs/breakout/not-again-debt-ceiling-debate-set-monstrous-return-142254224.html
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