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Obama’s Debt Ceiling Deal & Mortgage Rates - Backing Down or Standing Up?
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The US has finally come together and solved our debt ceiling crisis. Everything is back to normal...
Obama has completely backed off his demand for new revenue in the deal that passed the House a few days ago to raise the debt ceiling and cut the deficit. Several lawmakers have said they don’t know whether he can be counted on to stand firm on raising taxes on the wealthy and protecting programs such as Medicare.
Some people question Obama’s negotiating skills, complaining that he gave up weapons he could have used such as the Constitution’s 14th Amendment. This says that public debts shall not be questioned and to override the congressional limit on the federal debt. Even if Obama never used the 14th Amendment, the threat would have strengthened his negotiating position.
As for now, the debt ceiling has yet to effect mortgage rates. The only thing that currently looms is the chance of the United State’s credit rating dropping. This would be the deciding factor on whether or not the debt ceiling puts more strain on the struggling real estate industry. What are your thoughts and what do you think the chances are of the credit rating changing?
Tags: AAA credit rating, AAA rating, barack, barack obama, credit rating, debt ceiling, lending rates, mortgage industry, mortgage rates, obama, us economy
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Posted by online portfolio on Tuesday, 29 November -1Obama ...

