Happy NY, Fiscal Cliff Averted & Upcoming Webinar
Wishing you a healthy, prosperous & peaceful New Year, filled with continuous learning & triumph over challenges. Jan 1st is already here, but the December release of the US Non-Farm Payrolls is just around the corner on Friday. Open the year with my JOINT WEBINAR "Currency, Debt & Equity Markets Timing Webinar" with Fari Hamzei and George Cavaligos on - THURSDAY, JAN 3, 2013 - 16:00 Chicago, 17:00 NY, 22:00 London. LINK TO REGSITER: https://www1.gotomeeting.com/register/498780401 MORE BELOW on the FISCAL CLIFF DEAL.
The FISCAL CLIFF deadline is averted using the minimum AGREEMENT ON TAX CUTS, but not yet resolving the problem of SPENDING CUTS, which may take 2-3 months. The SENATE has agreed to extend Bush-era tax for family incomes below $450,000, a threshold well above Obama's preferred $250,000, yet it will be the FIRST TAX HIKE AGRRED upon by Republicans in nearly 20 years. THE KEY REMAINING ISSUE include the composition of the $110 billion in 2013 SPENDING CUTS scheduled to start begin in Jan.
THE DEBT CEILING IS other key issue. A plan to link $1 trillion in entitlement savings (slashing Medicare, Medicaid, Social Security & using Chained CPI to lower Federal programs) to increasing the debt ceiling by the same amount of $1 trillion. Debt ceiling may be needed to be increase by legislation by March 15OTHER ISSUEs Others include estate taxes, alternative minimum tax, the Medicare reimbursement rates and unemployment benefits.
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