Home From the Wires U.S. markets surge after Congress approves ‘cliff’ deal

U.S. markets surge after Congress approves ‘cliff’ deal

| Print |  Email
Wednesday, January 02, 2013

Washington Post: U.S. markets surged more than 2 percent Wednesday morning, hours after Congress approved a plan to avoid the “fiscal cliff” by raising taxes on American’s wealthiest households.

The late-night, last-minute deal allows the nation to avoid the severe austerity measures that were slated to take effect starting today. But it does not dramatically shrink the government’s soaring national debt, or address the nagging problem of persistent unemployment.

And it pushes off for two months a larger, potentially more painful battle over broader spending cuts and the federal debt limit, which means that the knock-down, drag-out fight that kept lawmakers in the Capitol building through the New Year’s holiday is likely to be repeated, in some fashion, over the next eight weeks.

Read more.

 

More Articles

Shipping News

September 2014
Tuesday, August 26, 2014
BY JENNIFER MARGULIS

In 2012 The Dalles, a city of some 14,400 located 75 miles east of Portland and often seen as the poor cousin to adjacent Hood River, completed a massive project to revitalize its dock.


Read more...

Fork & Bottle

October 2014
Thursday, September 25, 2014

National media can’t get enough of Oregon’s pinot noir, artisan-food purveyors and lively, independent film scene.


Read more...

Managing family assets: The importance of planning ahead

News
Friday, August 22, 2014
Unknown-1BY CLIFF HOCKLEY |  OB GUEST CONTRIBUTOR

When business intersects with family, a host of  situations can arise. Without a clear vision and careful planning, hard-earned investments can become stressful burdens.


Read more...

Semiconductor purgatory

News
Monday, October 06, 2014
roundup-logo-thumb-14BY LINDA BAKER | OB EDITOR

Intel's manufacturing way station; Merkley's attack dog; Diamond Foods gets into the innovation business.


Read more...

November/December Preview: Revenge Forestry

November/December 2014
Tuesday, October 14, 2014
BY JONATHAN FROCHTZWAJG

A flare-up in the Elliott Forest raises questions about détente in Oregon’s timber wars.


Read more...

What I'm Reading

September 2014
Wednesday, August 27, 2014

Kim Ierian, President of Concorde Career Colleges, and Deborah Edward, Executive Director of Business for Culture & the Arts, share their recent reads.


Read more...

Two Sides of the Coin

Contributed Blogs
Friday, September 26, 2014
0926 iphone6-thumbBY JASON NORRIS | GUEST BLOGGER

This post focuses on the recent release of the new Apple iPhone as well as Alibaba's IPO, the largest U.S. IPO in history.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS