The Broader Market

by Jordan Eizenga

Congress’s 11th-hour decision to raise the debt limit after agreeing to a $2.4-trillion deficit-reduction package may have averted economic calamity, but the United States is not out of the woods yet. The long-term effects of the protracted and fractious debt-limit negotiations, coupled with a deficit-reduction package that does nothing to put people back to work, tells me that we’re in for a rough ride. In particular, there are three things that concern me most going forward:

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