Implications of the Supercommittee's Failure
The Schwab Center for Financial Research recently reviewed the impact of the lack of agreement from the Joint Select Committee on Deficit Reduction (the "supercommittee"), including:
- The automatic spending cuts that will begin in 2013.
- What may happen to the various tax cuts expiring in 2011 and 2012.
- The bullish -- and bearish -- case for equities.
- The potential for an additional downgrade of U.S. Treasury debt.
Click here for Schwab's perspective on these issues.