Well, now that a deal on the debt has been reached, all is well in the world, right?
The markets continue to suffer from the contentious battle over spending in Washington, and a debt deal both Republicans and Democrats admit they despise did nothing to alleviate the pain. The Dow has lost about 1,000 points in the past two weeks, and there are now fresh concerns over the country’s weak economic outlook. Couple that with the July jobs report just around the corner and it’s no surprise investors are anxious. The economy will be a big issue on this week’s show.
The clock is still ticking, as we’re just days away from the August 2nd deadline. We still don’t have a deal on the debt, with each side scrambling for a last minute breakthrough. The tough part will be finding common ground that will allow passage in both the House and Senate. The debt will be a big focus this Sunday, as guest host Gloria Borger will talk to the key players involved in finding a solution.
It’s Wednesday, and here’s where we stand...
Well, it used to be months, now we’re looking at weeks – less than two, to be exact – until the Treasury Department says we’ll have to start writing I.O.U.s instead of checks to our creditors. So are we any closer to a deal? Depends on who you ask. The bipartisan “Gang of Six” presented a plan to about 50 senators and received a warm response. But there are some serious questions as to whether or not it’s even possible to put together a major deal before August 2nd. The likely alternative: a short-term stop gap. So yes, the budget will be a big topic again this Sunday.
A lot of possible leads for our show this week, but it looks like Thursday’s debt talks could reveal whether we’re any closer to a deal before the August 2nd deadline. Both sides have dug in their heels over the past couple of weeks, yet there are some signs that a deal could be reached. There’s a lot at stake here, so it will be interesting to see how everything shakes out.
This Sunday, it’s politics: New Hampshire style.
We’re getting ready for our special State of the Union from Manchester, New Hampshire, to preview Monday’s Republican presidential debate, moderated by John King. Seven of the announced and likely-to-announce candidates will participate, including the first 2012 debate for Mitt Romney, Newt Gingrich, and Michele Bachmann. Candy will be at St. Anselm College, the site of the debate, to preview Monday’s festivities.