I heard an interesting interview on Bloomberg last week with a Washington economics reporter. She was quite well spoken, and had observed many debt cycles. She thought the debt stand off was political theater; the president and most in congress are responsible and do not want a default, but they have to show their respective bases that they are tough and fighting for (whatever their base wants), so they have to have several rounds. What I found most interesting was that she said she thought it would be a bad thing if they got a deal before Tuesday because that would leave too much time for thinking about it.
I hope she's right! $SPDR S&P 500 ETF Trust(SPY)$ $S&P 500(.SPX)$
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