Recognizing the need to pursue growth-oriented policies that support demand and recovery, the United States will calibrate the pace of its fiscal consolidation by ensuring that its public finances are placed on a sustainable long-run path so that a sharp fiscal contraction in 2013 is avoided.
In the short term, the stock market behaves like a voting machine, but in the long term it acts like a weighing machine (i.e. its true value will in the longrun be reflected in its stock price).