From NEWSMAX / AP:
As President Barack Obama widened his lead over Mitt Romney in polls this month, traders at hedge funds and investment firms began shooting emails to clients with a similar theme: It’s time to start preparing for an Obama victory.
What many in the market worry about isn’t that high earners may pay more in taxes if Obama is reelected. It’s gridlock in Washington come January, when more than $600 billion in spending cuts and tax hikes could kick in just as the country smacks into its borrowing limit again.
There is reason to expect a deal. If Obama wins, the Republican fight to make him a one-term president will be lost. With the elections over, there will be little reason or room for political posturing. House Republicans could finally decide to be more cooperative…
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EDITOR: During presidential election campaigns, right wing leaning NewsMax churns out Republican propaganda articles. However, there must be one editor in charge of making sure there is a single journalistic effort each edition, even though it is picked up from the Associated Press. Like the above, it stands out as an oasis in the desert.
