Stock Markets Tremble As Debt Ceiling Debate Rages In Washington

Jobless_in_Ma at 16h28
25
Jul
2011
Stock Markets Tremble As Debt Ceiling Debate Rages In Washington

NEW YORK -- With just over a week left before the federal government is set to exhaust its borrowing authority, financial markets are on edge.

U.S. stock market futures shuddered Monday, and Asian and European stocks dropped, as federal policymakers still had not come to an agreement to raise the nation's debt ceiling and avoid default. Investors shunned risky assets and moved money toward
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From the White House to Congress, the negotiations over raising the U.S. debt limit have overshadowed or halted work on everything from job creation to the military conflict in Libya to education reform. And the debt debate has hamstrung President Barack
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On ABC’s This Week, Paul Krugman warned that the proposed debt ceiling deal is going to make unemployment worse and cause more misery for the American people. The most frustrating thing that all of Washington seems to be oblivious to the fact that
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Ultimately, if lawmakers fail to raise the ceiling this year, they will have two choices, both awful. They could either cut spending or raise taxes by several hundred billion dollars just to get through Sept. 30, which is the end of the fiscal year. Or
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25/07/2011 at 16h28 by "Jobless_in_Ma"