Debt Talks Falter, Again

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From the desk of Ian Wyatt Editor, Daily Profit Friday July 22, 2011 To unsubscribe - click here

	Debt Talks Falter, Again

	Washington, D.C. -- Leading Democratic leaders are fuming over the latest round of deals between the White House and House Republicans after President Obama met with House and Senate Democratic leaders for two hours on Friday. Nevada Senator Harry Reid (D) dismissed the U.S. Senate early Friday and won't reconvene for votes until Monday afternoon as Senators boarded aircraft to fan out across the country. This essentially precludes the Senate from participating in any deal and sends a strong message to the President that Mr. Reid and his allies are unhappy with deals put forward so far. Liberal Democratic Senator Barbara Mikulski of Maryland went on record stating that members of her party do not want to see a deal similar to last year's deal between Mr. Obama and House Republicans that left intact for two more years the Bush-era tax rates. This is in addition to the continued position of fiscally conservative House Republicans who are standing firm on their position that the United States does not have a revenue problem, rather a spending problem and that tax increases are essentially off the table. While both sides state that default on August 2 is not a viable option neither side has yet to yield in a manner that satisfies the other although House Speaker Boehner has hinted at tax increase telling reporters that he feels the majority of the 240 House Republicans are willing to compromise. Meanwhile stocks remain mixed as investors aren't sure where to put their money despite stellar earnings reports from some of the market's biggest companies. A lack of resolution on the debt ceiling and America's long term debt issue continues to weigh on the U.S. dollar and the minds of individual investors. And even if Congress and the President are able to find a compromise that raises the debt ceiling before the August 2nd deadline, spending cuts at the federal level will be a drag on economic growth and could send unemployment higher while tax hike could slow spending. Investors are advised to take steps to protect their wealth now. The latest Wyatt Investment Research special investment report is designed to help investors protect and grow their wealth in spite of U.S. debt problems. Click here for the details on of how to get your FREE copy of the "U.S. Debt Protection Fund" special report...
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