No budget deal: Now what?
Fidelity.com -- Nov. 23, 2011
"Keep an eye on rating agencies' reactions. Expect more market volatility. 2013 is key.
Now that the Super Committee has failed to reach a deal to reduce the U.S. budget deficit by its November 23 deadline, the question on investors' minds is: What's next?
The debt limit will increase by $1.2 trillion next year, and a budget sequester will be triggered resulting in $1.2 trillion in spending cuts beginning in 2013 (unless modified by Congress). So what does this mean for the economy and the stock and bond markets?"
https://guidance.fidelity.com/viewpoint … il_monthly
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