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Republicans Set to Vote on Debt Ceiling Legislation Tomorrow

LearningCommunity Wrote: Jan 22, 2013 5:28 PM
Despite the warnings of some market prognosticators that an Obama reelection would cause a recession and stock-market crash, the Dow Jones Industrial Average has gained more than 3 percent since Election Day, including the effects of a small post-election selloff supposedly triggered by Obama's victory over Mitt Romney. The Dow gained a little bit more on Tuesday, despite Obama's second inauguration on Monday.
Tinsldr2 Wrote: Jan 22, 2013 5:41 PM
And yet, Unemployment is still extremely high, The Dow is UNDER it's peak under Bush and gas Prices have doubled since Obama Took Office and are remaining high.

The DOW is a measurement of 30 companies. So it is high? When you devalue money with quantitative easing and then keep interest rates artificially low stocks will grow.
GodsLaws Wrote: Jan 22, 2013 5:39 PM
Well all those millions who are still unemployed or chronically underemployed, together with all those who will lose jobs or have their hours cut due to Obamacare can take great comfort in the fact that Obama's reelection made no difference to Wall Street.

Share that can of Vienna Sausages with me will ya'
jswanson635 Wrote: Jan 22, 2013 5:39 PM
Great news for investors. Now what about the jobless?
Bufa Wrote: Jan 22, 2013 6:03 PM
The 15 million new food stamp users will be so happy to hear this news.
Following the House GOP retreat last week, reports leaked that Republican leadership would bring a debt ceiling hike to the floor of the House. It's happening soon - text of the legislation is out now and the House could vote on it as soon as tomorrow.

THe legislation wouldn't quite constitute a debt ceiling "hike." What it would do, instead, is declare the statutory debt limit shall not apply" until May 18. And, as Suzy Khimm details, "the debt limit would automatically be increased to account for borrowing that occurred during that period." What number that...

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