Thursday, March 7, 2013

Roubini : There is not going to be a Grand Bargain on spending cuts and Revenue Increases

Nouriel Roubini : For the U.S., we have kicked the cliff down the road. we have the debt ceiling issue. We have a sequester issue. We have a continued resolution issue. I think they're going to kick the can further down the road. There's not going to be a grand bargain on spending cuts and revenue increases. They will decide to cut spending by $40 billion and then push the problem another three months. And then every three months they are gong to disagree and have another commission. Until there is market pressure, and there is no market pressure in the U.S., they will kick the can down the road. - in Bloomberg
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