Senate Agrees To Kick Can For Two Months; Breached Debt Ceiling Untouched

Well, we appear to be nearing a mini 'delay' deal of some sort. The agglomeration of headlines continues with Senate deals on and off, Biden proclaiming victory yet Senate Democrats are said not have consented (yet). *WHITE HOUSE SAID TO REACH BUDGET DEAL WITH REPUBLICANS *SENATE FISCAL CLIFF VOTE POSSIBLE BY 10:30 P.M.: REID SPOKESMAN *SENATE DEMOCRATS SAID NOT TO HAVE CONSENTED TO DEAL State of the idiocy appears to be: The 2-month sequester delay: cuts would come half from defense & half-non-defense. 2 month window to give all sides time for bigger deal. No debt ceiling resolution. Tax rises for 400/450k, Cap Gains/Dividend up to 20%, small rise in estate tax and restrictions on personal tax deductions. Simple - as we have said for a while - assuming this passes seamlessly, this is nothing but a can-kicking delay to the 'extraordinary' debt ceiling date - two words - Stop.Gap. ...