The Wall Street Journal today gives a fascinating peek at what concerns the Street as the US budget deficit negotiations continue in Washington. Here is the WSJ video backdrop:
As the country watches a game of Budget Chicken with far reaching implications, the Journal tells what it takes to own a private jet, whether their tax breaks will continue and what the President thinks about Gay Marriage. Now the WSJ is fully aware of the implications of the Budget negotiations breaking down:
Negotiators are trying to find ways to get a deficit-reduction deal that can win enough Democratic and Republican votes to pass Congress, clearing the way for an increase in the $14.29 trillion federal borrowing limit. Treasury Department officials warn that the debt ceiling must be lifted before Aug. 2 or the government will run out of cash to pay all its bills, which could shake financial markets and cause another recession.
So clearly the Journal is aware of the consequences of Budget Chicken. But instead of providing crucial analysis of the tax revenue trends and Federal spending spending patterns, the WSJ provides its best Huffington Post imitation.