Skip to: Content
Skip to: Site Navigation
Skip to: Search


The Reformed Broker

On brink of 'financial cliff,' at least one analyst remains hopeful

While few people expect real fiscal reform in the always partisan lead up to the November election, Lloyd Blankfein writes that there may still be hope, if President Obama, Congress and Mitt Romney declare that Simpson-Bowles will be the basis of future reform.

By Guest blogger / July 18, 2012

President Barack Obama speaks at a fundraising event in Austin, Texas on Tuesday, July 17, 2012. Some more optimistic experts hope President Obama and Congress will pledge to build upon the Simpson-Bowles reform plan going forward, despite the upcoming November election.

Jack Plunkett/AP

Enlarge

I read Lloyd Blankfein's op-ed at Politico this morning and I found myself in agreement with a lot of what he said (the piece was about investing in America).  One area I disagree with him on is the chance of any kind of fiscal accord taking place without a massive battle.  Blankfein thinks it may be possible to avoid, I hope he's right but I don't think so...

Skip to next paragraph

Joshua has been managing money for high net worth clients, charitable foundations, corporations and retirement plans for more than a decade.

Recent posts

From Politico:

Make progress on the long-run fiscal situation: Economic and investment sentiment suffered last year as a result of the congressional standoff over the federal debt limit. In the end, however, that debate produced $900 billion of debt reduction and an additional $1.2 trillion of spending cuts over 10 years, which will be mandated by sequestration if no other action is taken.

Realistically, while few expect a fiscal reform agreement before the November election, we should not discount the value of a declaration by congressional leaders of both parties, as well as President Barack Obama and former Massachusetts Gov. Mitt Romney, that Simpson-Bowles will be the basis of future reform. Simpson-Bowles presented a serious, responsible and bipartisan effort to improve the long-term fiscal outlook. Embracing its broad conclusions will send the right message to investors and corporate managers that we will make progress on our long-run budget challenges — and that now is the right time to commit capital and invest in the U.S.

Guess we shall see.

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on www.thereformedbroker.com.

  • Weekly review of global news and ideas
  • Balanced, insightful and trustworthy
  • Subscribe in print or digital

Special Offer

 

Doing Good

 

What happens when ordinary people decide to pay it forward? Extraordinary change...

Danny Bent poses at the starting line of the Boston Marathon in Hopkinton, Mass.

After the Boston Marathon bombings, Danny Bent took on a cross-country challenge

The athlete-adventurer co-founded a relay run called One Run for Boston that started in Los Angeles and ended at the marathon finish line to raise funds for victims.

 
 
Become a fan! Follow us! Google+ YouTube See our feeds!