There are multiple deadlines for Congress now through early December, including lifting the Debt Ceiling (Nov. 3, 2015 deadline) and passing the budget (December 11, 2015 deadline). Getting these deals passed without any drama now is very important. Treasury Secretary Lew says that he won't be able to pay bills on November 3, 2015 without action now.
Speaker of the House John Boehner and Senate Majority Leader Mitch McConnell have been meeting with President Obama to come up with a compromise before Boehner splits town on Friday.
Both sides know there isn't much of a choice on the Debt Ceiling. It must be raised. The only question is when and what kind of budget deal goes along with it. If there isn't a compromise fast, Wall Street will react, as will the credit rating agencies.
I'll examine the risks and the probabilities, as well as what lies beyond these crises for 2016, which will be the 8th year of the current bull market.
Sorry we couldn't complete your registration. Please try again.
You must accept the Terms and conditions to register