Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (28742)	7/12/2011 10:25:14 AM
From: ggersh	1 Recommendation Read Replies (1) \| Respond to of 119362

We're just screwed!

To: Giordano Bruno who wrote (28742)	7/12/2011 12:57:25 PM
From: Broken_Clock	1 Recommendation Read Replies (2) \| Respond to of 119362

No voice for the poor in this brave new world.... Zer0 will go down as one of the worst presidents ever, IMO. Can the US withstand back to back idiots? It is "sensible" to cut the poor, but "difficult" to take a dime from the elites.... Geithner wants debt limit deal by next week By David Lawder \| Reuters – 3 hrs ago Treasury Secretary Timothy Geithner talks about the debt crisis on Face the Nation … WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner on Tuesday said that time is running out for a deal to raise the debt limit, and wants a broad agreement with Congress in place by the end of next week at the latest. Speaking at a finance symposium at the Treasury Department, Geithner vowed that Congress would raise the debt limit ahead of an August 2 deadline when the government will risk default, adding, "Failure is not an option." He said President Barack Obama will keep meeting with congressional leaders until a deal to raise the debt limit and slash future deficits is reached. "We know we don't have a lot of time," Geithner said. "I think the leaders understand we don't have a lot of time, and we want to wrap up the broad outlines of an agreement by the end of this week -- certainly by the end of next week -- so that we have time to legislate it and put it in place." He told the Women in Finance Investment -- a group whose members manage some $700 billion in U.S. savings assets -- that it was important for investors to know that "the U.S. will act in advance of the limit that we face when our borrowing runs out on August 2." Thus far, Treasury yields have reflected little concern about default among investors and have benefited from safe-haven capital flows amid continuing financial turmoil in Europe and weak economic data. The benchmark 10-year Treasury note yield was well below 3 percent, dipping to its lowest point since early December early on Tuesday. That could change as the August 2 deadline approaches if no deal is in place. Geithner also said that any deal to cut deficits would have to be good for U.S. economic growth and would have to include some increased tax burden for the wealthy. He said Obama has shown willingness to make some responsible cuts to entitlements and wants Republicans "to do some difficult things too." "The president has proposed some very sensible tax reforms that would eliminate loopholes and ask the wealthiest Americans to pay a modest additional share of the burden," Geithner said. (Reporting by David Lawder; Editing by Theodore d'Afflisio)