Markets Surge as Fiscal Cliff Avoided

Markets Surge as Fiscal Cliff Avoided

The message from today’s surging stock market, where the Dow jumped 308 points amid news that the fiscal cliff has narrowly been avoided, is clear: Washington working together, even a little bit, restores confidence.

Even global stocks and markets around the world started climbing as soon as a deal was announced. Now just imagine how much the economy could improve if leaders reached a comprehensive deal that actually solved the problem.

The bad news is that this is just a short term bill and already, both sides are itching to drag the other into another debt negotiation fight. Although this deal did prevent us from going over the fiscal cliff, in essence, it was another punt. Congress decided to defer on sequestration for two months and instead will have to deal with it in March, just around the time when the government will hit the debt ceiling. This piecemeal approach is no way to conduct business, especially for an issue that is so closely followed by the markets at home and around the world.

We need our elected officials to stand up and work across the aisle to show real leadership on our nation’s fiscal issues. This isn’t a partisan issue -- it’s an American issue. Solving problems for the future is the only way to make this temporary confidence permanent.

Related Posts

  • March 13, 2013
    Jack McCullough
    In today's Problem-Solver's Daily, both sides of the aisle have unveiled proposed budgets, some are encouraged by Congress' recent steps and a few negative polls.
  • August 6, 2012
    Jack McCullough
    In today's Problem-Solver's Daily, Congress goes on vacation while ignoring problems, Harry Reid and Republicans are acting like children and companies are already taking action in anticipation of spending cuts and a raise in taxes
  • October 27, 2012
    Kelsey McLaughlin
    In today's Problem-Solver's Daily, we look at the last ten days of the campaign and what our government could look like in January.

Use the Toolkit

Citizen Toolkit

Click here to get all the tools you need to help make America work!

Use Toolkit

Problem Solvers

  • Andy Barr
  • John Barrow
  • Mark Begich
  • Ami  Bera
  • Sanford Bishop
  • Diane Black
  • Bruce Braley
  • Julia Brownley
  • Larry Bucshon
  • Cheri Bustos