Friends
As you have most likely heard, there has been a tentative agreement on the debt ceiling that should be voted on today. If passed (and it is not a done deal), one could at least say that it is a start. At least we have entered the discussion that deficit reduction is essential to the long-term health of this country, and if not addressed, ratings agencies and markets will make sure the discussion continues and progress is made. No, this deal does not really solve anything, but it at least puts us on a path that could eventually lead to fiscal responsibility. Yes, I do try to look at the bright side of things.
Not unexpectedly, the market looks to open higher, but we will see how the vote goes later today and if markets can hold on to the gains. The S&P 500 looks like it will start the day right at the 1300 level. Stay tuned. The day promises to be interesting.
