Prez Obama did not get all he wanted - the taxation of the rich will be looked at by a super Congress cmttee established to find ways to cut spending. But he will avoid a historical default if the voting proceeds favourably without a major Tea-party revolt on the Republican side.
Let's face it, Republicans will try to entrap the incumbent Prez to talk abt tax increases in the next election. And there are Tea-party-goers who are determined to bring down the Obama administration at any costs. As professional negotiators often point out, it's difficult if not impossible to negotiate on differences in principles and ideologies.
We shall see how far this toxic political environment will continue to hinder the economic recovery of the US and to a lesser extent its trading partner Canada.
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