Stocks sink on Wall Street as investors fret over a looming impasse over US budget

  • Article by: STEVE ROTHWELL , Associated Press
  • Updated: November 14, 2012 - 4:27 PM

NEW YORK - Investors drew little hope Wednesday for a quick compromise in U.S. budget talks after President Barack Obama insisted that higher taxes on wealthy Americans would have to be part of any deal.

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russ999Nov. 14, 12 3:12 PM

the question is. Are the Teapublicans going to hold America hostage again.

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theagonybhoNov. 14, 12 3:13 PM

Thats down about 550 points since the election, i guess elections do have consequences.

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notforwardNov. 14, 12 3:13 PM

FORWARD!!!!!!! Thanks Obama voters!!

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mcleanmNov. 14, 12 3:29 PM

Just more of Business's reaction to President Obama's reelection

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kleindropperNov. 14, 12 3:48 PM

There will be a quick resolution; it's going to happen either way (bad or worse) on January 1st. Congrats Obama voters, GLTA.

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kleindropperNov. 14, 12 4:16 PM

Re:"Are the Teapublicans going to hold America hostage again." You just don't get it do you? Obama has to be a leader and work with Republicans. They are representing the 48% of us who did not support the President. Bush worked with Democrats to get his tax cuts passed (in fact this sunsetting we are dealing with now was one of the Democrat conditions) Reagan worked with Dems twice to get two rounds of tax cuts through as well as entitlement reform. Clinton worked with Republicans with mostly good results for 6 years. Boehner is ready to lay down like a dead dog if Obama would just lead, but I don't think Barry is capabale of leading, only posturing and campaigning.

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russ999Nov. 14, 12 4:26 PM

Pew poll: more to blame if agreemnet not reached? 53 percent are inclined to blame Republicans in Congress while 29 percent single out Obama

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nimrod888Nov. 14, 12 5:04 PM

How does taxing the rich solve anything? You could take every single penny from those earning $1 million or more, and guess what, that would run the country for a mere 3.75 weeks. Unless the libs get realistic and realize the severity of the problem, the entire country is doomed to fail within two years. The problem then being, the libs will still blame Bush as they have their hand out waiting for their "entitlement".. The stock market is over valued and will continue to fall rapidly, unless a "leader" steps forward and does what is right for all Americans.

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lizardguyNov. 14, 12 5:29 PM

Drive us over the cliff! EVERYONE, yes EVERYONE, knows that raising taxes on the higher income earners will only increase spending and will not lower the debt or deficit. But, it will make 51% of the voters feel good.

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lizardguyNov. 14, 12 5:31 PM

Personally, I don't care if anyone blames the GOP. They are a lost cause anyway. Let the liberals have 100% control of congress and the white house and watch this country self destruct within a year.

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