Although the House GOP leadership has been divided on how to deal with the upcoming fiscal contests, it has apparently decided to raise the debt ceiling and focus on the sequester as I have predicted.
Here's the FT on the Republicans at the end of last week:
"Republicans in the House of Representatives vowed to pass a three-month extension of the US debt limit next week, reflecting their mounting concerns about bearing the blame of any new brush with default for the US economy.
Following a two-day retreat at a resort in Williamsburg, Virginia, House Republicans said they would support a short-term extension of the US borrowing limit to give Congress more time to pass a long-term budget."
The thinking here is that, to the degree they want to cut spending, they would need to focus on...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.