If US defaults, blame health care HealthDest
If US defaults, blame health care
All that seems to matter to the stock market these days is whats happening with the U.S. Treasurys debt ceiling. Will it be raised? Will American default on its debt? Can President Obama and the Republicans actually come to an agreement?
So far, despite all the political posturing, a short-term solution still seems to be in the cards. Failure to act simply isnt an option. Obama knows that. The Republicans know that. The corporate lobbyists have done their job. And Wall Street has already sounded the alarm, with credit analysts at Moodys and Standard Poors casting doubt on the nations credit worthiness.
For all the talk of spending cuts, tax hikes, and short-term solutions vs. big fixes, there is one fundamental truth that isnt getting a lot of play: Runaway healthcare costs are bankrupting the country. And while thats been great news for investors in the healthcare sector in recent months, with the Health Care SPDR (XLV) outperforming the broad market by more than 11% since February, it jeopardizes the debt ceiling debate, the fate of the economy, and the very future of the country.
Any real, lasting solution (which is what Obama wants) needs to tackle this problem some hell, high water, or death panels. Why?
First, some quick background. As I discussed in a column about the budget deficit a few months ago, (Feb. 2, Pulling the plug on the economy?) much of the current deficit is being caused by the lousy economy...read more!Article source: http://money.msn.com/top-stocks/post.aspx?post=99380400-9dca-450b-b193-cd4361fecc27
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