Sunday, July 24, 2011

Reuters: House Republicans May PushTheir Own Defecit Reduction Package As Time Running Out

With 6 hours until the Asian open, things are getting interesting.  If Congress can't come up with an agreement today, look for a US debt downgrade on Mon or Tues, and the DOW to trade lock limit down on the open.

U.S. House of Representatives Speaker John Boehner tells Fox News Sunday that House Republicans are prepared to push through their own deficit reduction package if congressional leaders fail to produce a bipartisan plan by Sunday afternoon. That would be just hours before financial markets open in Asia. With time running out, the Democratic-led Senate might have no choice but to accept what the Republican-led House passes this week.
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