“Deal or No Deal.” That’s what I am now calling the debt ceiling debate between Congress and the White House. I said last week that it is going to be tough getting tax increases and spending cuts big enough to get a $2.5 trillion raise in the debt ceiling through the House of Representatives. Yesterday, Senator Ted Kaufman from Delaware said the “No Deal” scenario is at 60%. We will eventually get a deal, but not by the August 2nd deadline. Is there any wonder why gold hit an all-time high this past week? Silver was also back over $40 again. The decision by the EU that the Greeks will be allowed to have a “selective default” seals the gold deal. You can find all that and a lot more on the “Weekly News Wrap-Up” on USAWatchdog.com below:
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.