Tax refunds are hardly ever tucked away for a rainy day: they are generally used to pay off debt (often from holiday spending) or to make large purchases.
FORBES: As We Creep Closer To The Debt Ceiling Limit, Is Your Tax Refund At Risk?
Plouffe this morning, and also Dan Pfeiffer tweeting, were talking about the Boehner bill and how it would mean dealing with the debt ceiling over the Christmas holiday season, which is an important time for the economy.
Cramdown is already allowed for other forms of consumer debt, such as mortgages on holiday homes.
So, given the idea that the economy is improving, traders are able to avert their attention from the misery that is the European debt mess and get into the holiday spirit.
Interim chief executive Sam Weihagen said the company was moving ahead with efforts to "re-energise our business and begin to rebuild profitability, reduce debt, and continue to provide a fantastic holiday experience for our customers".
On a positive note, this holiday season may mean that consumers learned their debt lesson.
Right now is a great time to sit down to create a plan for your holiday gift shopping without accumulating a pile of debt.
Some pundits see the possibility of a grand compromise after the election wrapping in the debt limit, expiration of Bush tax cuts, the payroll tax holiday and budget sequestration.
FORBES: Defense Industry Facing Biggest Funding Cut In 60 Years Next January
The European debt crisis has kept a strong grip on the market even as the holiday nears, and economists warn that political missteps in Washington would only add more uncertainty next year.
The European Union debt and financial worries are temporarily on the back burner Tuesday because most of Europe on holiday.
FORBES: Comex Gold Near Steady in Thin Trading; U.S. Data Awaited
After being closed Friday for a holiday, the Nikkei index in Tokyo fell 2.8% on concerns about European debt and Friday's weaker-than-expected jobs report in the United States.
CNN: French President-elect Hollande casts doubt on austerity
应用推荐