DeMint's Departure: A Positive or Negative for Fiscal Cliff Talks?
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Republican Senator Jim DeMint said he would be stepping down from his seat in January to run the conservative think-tank the Heritage Foundation.
A key point that could be made here is DeMint's notoriety for clashing with GOP leadership. This week, DeMint, a favorite of the Tea Party movement, denounced House Speaker John Boehner's fiscal cliff proposal.
In particular, DeMint noted that Boehner's proposal for $800 billion in increased tax revenues would only heighten Washington politics and put more people out of work.
DeMint issued a statement on the opposition, saying, in part, "This isn't rocket science. Everyone knows that when you take money out of the economy (with tax hikes), it destroys jobs, and everyone knows that when you give politicians more money, they spend it...[t]his is why Republicans must oppose tax increases and insist on real spending reductions that shrink the size of government and allow Americans to keep more of their hard-earned money..."
Whether or not DeMint's departure means a deal has been reached or not is up in the air. One thing is clear: Boehner will have one less naysayer come January if no deal is passed before then.
U.S. markets are up on the session, with the Nasdaq about 0.5 percent higher, Dow up 0.1 percent, and S&P 500 up 0.2 percent.
A key point that could be made here is DeMint's notoriety for clashing with GOP leadership. This week, DeMint, a favorite of the Tea Party movement, denounced House Speaker John Boehner's fiscal cliff proposal.
In particular, DeMint noted that Boehner's proposal for $800 billion in increased tax revenues would only heighten Washington politics and put more people out of work.
DeMint issued a statement on the opposition, saying, in part, "This isn't rocket science. Everyone knows that when you take money out of the economy (with tax hikes), it destroys jobs, and everyone knows that when you give politicians more money, they spend it...[t]his is why Republicans must oppose tax increases and insist on real spending reductions that shrink the size of government and allow Americans to keep more of their hard-earned money..."
Whether or not DeMint's departure means a deal has been reached or not is up in the air. One thing is clear: Boehner will have one less naysayer come January if no deal is passed before then.
U.S. markets are up on the session, with the Nasdaq about 0.5 percent higher, Dow up 0.1 percent, and S&P 500 up 0.2 percent.
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