Serious Money: Washington Compromise Stinks, but Here Are Some Stocks To Look At

Filed under: Other Issues, Exxon Mobil (XOM), Archer-Daniels-Midland (ADM), Deere and Co (DE), Politics, Serious Money

Leave it to our representatives in Washington to make a compromise that ignores most of their previously stated beliefs -- of only a few days ago. This just reinforces again the old joke "How do you know when a politician is lying?..."



Monday the Obama administration and congressional Republicans came to an agreement to extend both unemployment benefits by 13 months, and the Bush-era tax cuts for all by two years. What happened to the Republican and Democratic noise about fiscal responsibility and reducing the debt?



A few days ago Republicans were not going to vote for an extension of the unemployment funding if there was not associated revenue offset to pay for it. That's gone, so the deficit is going up. The Democrats claimed they would not back an extension of the tax cuts for people that earned over $200,000 for individuals and $250,000 for joint returns claiming this would add $900 billion toward debt reduction. That's gone so the deficit is going up.

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Serious Money: Washington Compromise Stinks, but Here Are Some Stocks To Look At originally appeared on BloggingStocks on Tue, 07 Dec 2010 16:40:00 EST. Please see our terms for use of feeds.

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