Possible U.S. Debt Deal Tonight: Immediate Impact on Investors

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From the desk of Ian Wyatt Editor, Daily Profit Monday August 1, 2011 To unsubscribe - click here

	Possible U.S. Debt Deal Tonight: Immediate Impact on Investors

	The U.S. House of Representatives is expected to take up the debt ceiling limit vote first tonight with one GOP aide stating that the House is "very fluid" but all parties remain hopeful. In meetings over the weekend House Republican leadership and the White House announced a plan that they expect to be able to pass both the House and Senate. The deal aims to trim at least $2.1 trillion in spending over the next decade. The White House and Republican leaders have been working on Monday to line up lawmakers for their deal in order to avoid a debt default tomorrow that many analysts believe could cause financial markets to melt down. On the Senate side, Republican leaders report having at least 30 votes that they can deliver on debt ceiling legislation, with as many as 35 eventually voting `yes,, according to Senator Mike Crapo (R-Idaho), deputy Republican whip. Senate Democrats meanwhile have lined up in a virtual conga line denouncing the proposal. Under the terms of the deal the government will get an increase of $400 billion to spend immediately and another $500 billion that President Obama can order unless specifically denied by Congress. That $900 billion increase in the debt ceiling is supposed to be matched dollar for dollar with spending cuts and savings over the next decade. A commission would also be established to find another $1.5 trillion in cuts from farm subsidies, Medicare, and Medicaid. In the end the deal allows the nation's borrowing ceiling to rise by another $2.4 trillion, in addition to the $14.3 trillion already authorized (and spent). Diehards in both parties are taking swipes at the deal and passage is reported as not being assured at this point. Some have argued that many of the "cuts" are not "cuts" at all but deletions from already built in spending increases. Markets around the world have reacted negatively with the Dow in negative territory for an eighth day in a row. European markets are also down while Asian markets are uncharacteristically up. Even if Congress and the White House eventually strike a deal that gets passed, spending cuts at the federal level could be a drag on already weak economic growth while any tax hikes or revenue increases could slow business and consumer spending and stop cold any new hiring. Investors have been taking steps to reduce their exposure to the U.S. economy by expanding their investing horizons. The latest Wyatt Investment Research special situations 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 how to get your free copy of the U.S. Debt Protection Fund special report...
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