No Deal this Week on Fiscal Cliff: Report

No Deal this Week on Fiscal Cliff: Report
skeeze / Pixabay

No Deal this Week on Fiscal Cliff: Report


“No deal” will be made this week regarding the fiscal cliff, according to FOX Business Network (FBN) Senior Correspondent Charlie Gasparino. Gasparino went on to say that the plans for the deficit are “being held very tightly by the leadership” and that “it’s unclear exactly how much influence” Campaign to Fix the Debt co-chairs Erskine Bowles and Alan Simpson still have.

Mohnish Pabrai On Value Investing, Missed Opportunities and Autobiographies

Mohnish PabraiIn August, Mohnish Pabrai took part in Brown University's Value Investing Speaker Series, answering a series of questions from students. Q3 2021 hedge fund letters, conferences and more One of the topics he covered was the issue of finding cheap equities, a process the value investor has plenty of experience with. Cheap Stocks In the Read More

Excerpts from the report are below.


On whether they will reach a deal on the deficit this week:

“When I am talking to legislative aids today, they’re telling me no deal this week. Nothing before Thanksgiving… Now here’s the real issue guys, the pressure on these guys mount as Christmas comes. Why is that, huge selling season this is huge for the economy, if everybody believes their taxes are going up, meaning a fiscal cliff, across the board tax increases, that’s going to be a real problem for the economy and I’ll tell you the leadership knows that. So once Thanksgiving is over the clock starts ticking.”


On the budget negotiations being held tightly by the leadership in Washington:

“We should point out that Bowles and Simpson, sources are telling the FOX Business Network, are meeting legislative groups to craft a potential deal. Basically going to members of Congress saying here’s what we think you should do, here’s how it should work. But here’s the problem – this deal, whatever is being done here, is basically being held very tightly by the leadership. It’s Boehner, Paul Ryan, Cantor, Mitch McConnell, on the Republicans – it’s Pelosi and Reid on the Democratic side and you know there’s very little involvement with anybody else. So that’s the one problem that Bowles and Simpson have. This is basically being held very tight with the leadership, obviously they know people in the leadership, So it’s unclear exactly how much influence these guys still have.”

Updated on

No posts to display