The white house responded, saying the g. O. P. Proposal does not meet the test of balance. In fact, it actually promises to lower rates for the wealthy and sticks the middle class with the bill. Its not just the federal government under pressure. Credit Ratings Agency fitch calls the fiscal cliff the biggest concern for state credit in 2013. Saying, any meaningful federal deficit reduction is likely to lower state funding, forcing Program Elimination or backfilling. As the tax hikes and spending cuts approach, u. S. Manufacturers saw business shrink last month. The institute of supply managements purchasing Managers Index fell unexpectedly to 49. 5, down from 51. 7 in october. A reading below 50 means business has fallen back into contraction. The november statistic is the lowest since july 2009. The dow fell 60, the nasdaq down eight, the s p 500 lost six. Susie jeff saut says investors seem to be ignoring bad news, and this is a bullish sign. Hes managing director and chief investmen
The white house responded, saying the g. O. P. Proposal does not meet the test of balance. In fact, it actually promises to lower rates for the wealthy and sticks the middle class with the bill. Its not just the federal government under pressure. Credit Ratings Agency fitch calls the fiscal cliff the biggest concern for state credit in 2013. Saying, any meaningful federal deficit reduction is likely to lower state funding, forcing Program Elimination or backfilling. As the tax hikes and spending cuts approach, u. S. Manufacturers saw business shrink last month. The institute of supply managements purchasing Managers Index fell unexpectedly to 49. 5, down from 51. 7 in october. A reading below 50 means business has fallen back into contraction. The november statistic is the lowest since july 2009. The dow fell 60, the nasdaq down eight, the s p 500 lost six. Susie jeff saut says investors seem to be ignoring bad news, and this is a bullish sign. Hes managing director and chief investmen
Fiscal cliff deadline, today House Republicans sent the president a counteroffer, calling for big cuts to entitlement spending, and no new taxes on the wealthy. Tom im tom hudson. Auto sales speed up in november, with buyers taking advantage of ultracheap financing to ditch their old cars. Susie ford takes the wraps off a new lincoln, taking the brand back to its heritage, but will a rebranding help revup sales, we ask ford c. E. O. Alan mulally. Tom that and more tonight on n. B. R. after a weekend of trading accusations over the lack of progress on avoiding the fiscal cliff, both sides now have put their opening offers on the table. Last week, it was treasury secretary Timothy Geithner meeting with top republicans. This afternoon, House Speaker john boehner sketched out the g. O. P. Proposal in a letter to the white house, and the proposal borrows suggestions from the president s own Debt Reduction commission, whose plan was ignored last year. The republican letter offered 900 billio
After a weekend of trading accusations over the lack of progress on avoiding the fiscal cliff, both sides now have put their opening offers on the table. Last week, it was treasury secretary Timothy Geithner meeting with top republicans. This afternoon, House Speaker john boehner sketched out the g. O. P. Proposal in a letter to the white house, and the proposal borrows suggestions from the president s own Debt Reduction commission, whose plan was ignored last year. The republican letter offered 900 billion in spending cuts from Program Reforms to medicare and social security. The g. O. P. Plan would raise 800 billion in revenues by closing loopholes and reforming the tax code, but stops short of specifics. Noticeably missing the higher taxes on highwage earners which president obama has insisted on. The white house responded, saying the g. O. P. Proposal does not meet the test of balance. In fact, it actually promises to lower rates for the wealthy and sticks the middle class with the