White House officials introduced a plan to address the fiscal cliff last week in private meetings with Democratic leaders, though the White House itself is not ready to endorse it. The plan would delay defense spending cuts for six months, but would extend Bush tax cuts for a year only for those earning under $250,000 annually, according to Fortune. The plan comes as a response to Republican proposals to extend all Bush tax cuts, which the GOP will likely bring to vote next month.
NABE survey provides more evidence of tightening labor market.
In 2011, Obama administration put together contingency plan to prioritize payments..
Prospect of slowdown or halt in Chinese purchases of U.S. government debt gives bond market the jitters.
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