Stock Market Offers a Hearty "meh" in Response to Debt Deal

If Obama was hoping for a major stock market rally to greet his debt ceiling deal, he's not getting it.  Any rally was squashed by a very bad manufacturing sector report.  As I write this the Dow is down 115.

So much for hope and change.

Daniel Horowitz offers nine reasons to oppose the deal.  It's worth reading.

Mitt Romney, in a display of stunning leadership and courage, never said anything while the deal was in negotiation but today has come out against it.  Let me give that a "meh" too.

Did you know there are tax increases in this deal?  You can find them in the CBO scoring which assumes the end of the Bush tax rates which will in effect be a tax increase on everybody.  Without that tax increase instead of cutting almost a trillion over 10 years there would be 5 trillion in additional deficits.

I think the vote in the House could be close enough to give Boehner, Pelosi and Obama some nervous moments.

This was a missed opportunity.  The GOP should have proposed something that would have made the Bush tax rates permanent and that ended Obamacare.  Couple those with the debt ceiling increase and tell them to take it or leave it.  Given how paranoid Obama had become about his re-election chances, I think he would have taken it.