Tuesday, August 02, 2011

Debt Clash Resolved (For Now)

After weeks and months of fierce debate, national debt limit was raised today when President Obama signed the bill agreed to by the House and Senate. There are a range of opinions among conservatives as to whether this was a wise agreement (and perhaps even greater angst among liberals).

My take is that it is far from perfect but that we have begun to "turn the tanker" around to a more sensible direction, even as some of the crew and the captain are resisting the turn. The need is to pick up more crew members and a captain willing to make the turn in November 2012.

Meanwhile, regardless of the debt limit deal, today's stock market tumble indicates serious problems with the economy. Challenging times ahead.

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