http://thehill.com/blogs/on-the-money/budget/270417-obama-debt-limit-proposal-would-ease-concerns-on-wall-street
oop's seems like everybody republicans have been denying us to save rich now wall street are rejecting their protecting and opting for a more fair and balanced approach.
President Obama’s attempt to wrest control of the debt limit from Congress is getting quiet praise on Wall Street.
Wall Street groups Friday are wary of weighing in on any specific piece of the White House proposal’s to stave off tax hikes and spending cuts that could trigger a recession. The last thing they want to do is to pick sides in the fight over the “fiscal cliff.”Yet the financial community has long wanted matters concerning the debt limit to be as routine as possible, and the financial industry recognizes Obama’s proposal could accomplish that goal.“I think, more than anything, the goal is not to have a repeat of what happened last year ever again. The market uncertainty, the downgrade, everything,” said one financial industry representative who wished to remain anonymous. “Removing the recently established uncertainty over raising it, I think, would go a long way.”
they are taking more of a tumble then anyone estimated can you connect Pres. and change to all the "changing things" happening since the election are you feeling that hmmmmmmmm?
Under the White House proposal, the president would have the power to raise the debt limit as needed.
Congress currently must pass legislation to hike the limit, but under Obama's proposal lawmakers would only be able to pass a resolution disapproving of a debt limit increase by the president.
The president also would have the power to veto any resolution of disapproval, meaning two-thirds of Congress would have to disapprove of such an increase to block it.
i like it but as the republican thinly veiled threat "what happens if we let them back in", good legislation could be relegated to the back burner you know like 2009-10-11-12. only wave to stave that off is not to elect them again because there is no change over the horizon for them same crap different day.
