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John P. Dubots, Temecula Financial Planner, on White House Scandals and the Economy
John Dubots, Financial Advisor in Temecula, California, discusses recent White House scandals and their potential effects on the economy.
By: Dubots Capital Management
While none of these scandals affect the economy directly, they are likely to have an effect upon the delicate balance of power in Congress. Any scandal which negatively impacts a president's popularity also affects his ability to wield influence. As Congress and the White House seek to negotiate compromises on economic issues like tax reform, the debt ceiling, and the budget, the President and his administration may be losing some political bargaining power due to their lost credibility with the American public.
According to RealClearPolitics [http://www.realclearpolitics.com/
Since several upcoming decisions in Congress carry the potential for major impacts on consumer confidence, investor conduct, and corporations, those who are concerned with the direction of the economy would be wise to pay careful attention to Washington in the coming months. In particular, Congress is set to make a decision regarding the debt ceiling by the end of summer. Tax reform and balancing the budget could potentially be postponed until after Obama's term is finished, especially if Congress remains gridlocked as it has been all year. However, if one party senses they are in a strong position to pass measures without much compromise, an aggressive pursuit of one or both of these issues could be expected.
John Dubots is President and founder of Dubots Capital Management. Visit company website at http://jpdcapitalmanagement.com
Investment Advisory Services offered through John P. Dubots Capital Management, LLC, CA License # 0822926