Stocks Jump On NYT Rumor Of Boehner Debt Ceiling Deal
Update: Boehner spox says Boehner "has always said the US will not default on its debt but cuts and reforms" also needed. In other words, nothing new in what appears to be a planted NYT piece designed to reduce Boehner's leverage.
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Take the following report from the New York Times with an epic grain of salt, although for the time being, the following unsourced post in the NYT has pushed stocks off their lows.
"With a budget deal still elusive and a deadline approaching on raising the debt ceiling, Speaker John A. Boehner has told colleagues that he is determined to prevent a federal default and is willing to pass a measure through a combination of Republican and Democratic votes, according to one House Republican.
The lawmaker, who spoke on the condition of not being named, said Mr. Boehner indicated he would be willing to violate the so-called Hastert rule if necessary to pass a debt limit increase. The informal rule refers to a policy of not bringing to the floor any measure that does not have a majority of Republican votes."
Would the anonymous lawmaker happen to be Peter King, one wonders?
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