Same pattern different day.
The market is up small and everyone is waiting for the Fed POMO buying
to send the markets slowly higher.
Costco, COST, had great earnings last night and the stock is near its 52
week high and should break through and continue higher. Today Congressman Paul Ryan, former VP
candidate and current Wisconsin Republican House member, delivered his version
of the government budget. It claims to
balance the budget in 10 years with no new taxes and spending cuts. His spending cuts would be to most social
programs, Medicaid, grants and increasing a portion the patient pays in
Medicare, while this is not technically a tax it has the same effect, increases
for tax payers. He also is working on
Repealing Obamacare, good luck on that one.
Tomorrow will be the Democrats turn and you can expect a tax increase on
the wealthy and more aid to social programs.
I am still amazed that the Democrats have not gone after the Defense
budget, have both parties turned into war mongers? I will be interested in what they put forth.
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