After our government took-over GM and Citibank and gave Chrysler to the UAW, gridlock is just what Wall Street is hoping for.
AP reported:
WASHINGTON — Political gridlock is supposed to be good for business. If bickering lawmakers can't agree on anything, the thinking goes, they can't pass laws and regulations that make the economy worse.
So will the midterm elections, which are expected to leave Congress at least partially controlled by Republicans and squaring off against a Democratic White House, be a help to the economy?
Don't count on it.
A standoff between the Obama administration and emboldened Republicans will probably block any new help for an economy squeezed by slow growth and high unemployment.
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