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1.Market Observations

24 Jan 2013 (AFR, Bloomberg) – Pressure on debt ceiling to ease

(24 Jan 2013, p29, Lisa Lerer, Washington, and Bloomberg)

Obama Welcomes ‘De-escalation’ of Debt-Ceiling Debate: Off the Brink

‘The Obama administration is welcoming a move by House Republicans to vote tomorrow on raising the nation’s debt ceiling through mid-May as a “de-escalation” of the fiscal debate, White House press secretary Jay Carney says. “The fact that House Republicans have made this decision is certainly something that we welcome,” Carney said at a briefing. It means they will “back away from the kind of brinkmanship” over the federal debt limit that creates uncertainty for companies and is harmful to the economy.’

‘Carney said the administration still prefers a long-term extension of the nation’s debt ceiling. Still, President Barack Obama “would not stand in the way” if Congress passes the proposal.’



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