Thought of the day

Republicans challenged a presidential veto threat by preparing for a short-term extension of the U.S. debt limit, hardening partisan differences in the face of warnings that a stalemate risks roiling financial markets as soon as tonight.

Boehner said he aims to announce a framework, bipartisan or not, later today to try to minimize uncertainty before Asian markets open. Senator Tom Coburn, an Oklahoma Republican, said on NBC that Obama’s veto threat is “a ridiculous position because that’s what he’s going to get presented with, that’s the compromise way through.”

President Barack Obama would veto a deal to raise the debt ceiling if it doesn’t extend the limit into 2013, White House Chief of Staff Bill Daley said in an interview on NBC’s “Meet the Press.” (Source: Bloomberg)

My view? Lack of leadership is the main issue in this charade.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest

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