It's hard to believe that summer is unofficially over and how an historic swim by a persistent 64 year old lifted my spirits.
I flew up to my summer home in Maine to enjoy the end of summer and spend a few days relaxing and thinking about everything that's going on. Sometimes it helps to get away and look at things from a different perspective; that's what I'm doing right now.
Congress is finally cleaning up its unfinished budget business for the 2013 budget year with a bipartisan government-wide funding bill. But even as that measure heads toward approval, the House and Senate are moving toward divisive votes that will underscore sharp differences on a bigger problem: how to fix the nation's long-term deficit woes.
The Senate is positioned to approve the catchall spending bill Tuesday after it cleared a procedural hurdle Monday by a strong 63-35 vote. The House, which approved a narrower version two weeks ago, is expected to quickly clear the measure and ship it to President Barack Obama for his signature.
On a separate track, the GOP-controlled House and Democratic Senate are readying votes this week on sharply different budget blueprints for next year and beyond. The measures are non-binding and largely symbolic. But they veer off in opposite directions at the same time President Barack Obama seeks to nurture a future compromise blending new tax revenues with spending cuts beyond what his Democratic allies are willing to offer now. Continue reading "Congress works on budget for both 2013 and future"→
There is one final week left in the deadline for Congress to compromise on the remaining 2011 budget. If they do not succeed, we will have a government shutdown on our hands. This would greatly affect the markets and has many traders treading lightly until April 8th passes.
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