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Basically, the new law, signed on Friday by Mr. Obama, preserves the status quo through February, so House and Senate negotiators can try to reach longer-term agreements on the Social Security payroll tax, unemployment insurance, Medicare and a few other issues, like the shape of the welfare program that provides cash assistance to more than 4.6 million poor people.
But he said reaching a longer-term goal would require bigger reductions as well as action from Congress.
The weekly OBV has dropped further below its WMA and is now reaching its longer-term uptrend, line c.
This kind of debt will eventually eat into your lifestyle, and really keep you from reaching your longer-term goals like being financially independent.
"These revisions probably release some pressure to reach a longer-term deal, which is too bad, because the longer-term problem hasn't gone away".
It will require determined leadership and vision to meet some of these short-term challenges and reach the longer-term prize at the end.
Both sides also agreed to a formal budget conference, in an attempt to reach a longer-term deal by 13 December.
It will force both sides into a formal budget conference in an attempt to reach a longer-term deal by 13 December.
Via Reuters: Meeting for breakfast, Republican House Budget Committee Chairman Paul Ryan and his Democratic counterpart in the Senate, Patty Murray, said they would explore every avenue to reach a longer-term deal to reduce deficits and replace automatic "sequester" spending cuts.
Senate Democrats, saying more time is needed to reach a longer-term agreement, are calling for a 30-day extension that would continue to hold spending generally at last year's levels, but Republicans say that is not enough.
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