The financial markets rallied on these events, but we remain cautious on Europe since no firm solution to the over-indebtedness problem has been putforward.
What I'm suggesting is, I've putforward a plan that calls for serious spending cuts, serious entitlement reforms, goes right at the problem that is at the heart of our long-term deficit problem.
The Republican plan, putforward by House Budget Committee Chairman Paul Ryan, basically reiterates the party line that the debt is a spending problem alone and that tax increases must not be part of the solution.