Obama To Make Statement At 1:30 PM, Stocks Pop Then Fade
December 31, 2013 - 12:44pm
With just 3 hours left in the trading day, why not up the stakes a little in the soap opera and take it straight to the star character: OBAMA MAKING STATEMENT ON BUDGET TALKS AT 1:30 P.M. What will he disclose? Perhaps this, from the AP: The contours of a deal to avert the 'fiscal cliff' emerged Monday, with Democrats and Republicans agreeing to raise tax rates on couples making over $450,000 a year, increase the estate tax rate and extend unemployment benefits for one year, officials familiar with the negotiations said. But with a midnight deadline rapidly approaching, both sides were at an impasse over how to handle automatic, across-the-board spending cuts set to take effect on Jan. 1. Democrats want to put off the cuts for one year and offset the so-called sequester with unspecified revenue. The deal in the works would return tax rates on families making over $4...
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