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Obama agenda: A qualified veto threat

“The White House on Tuesday released a two-sentence veto threat against the House Republican plan to cut $1.2 trillion over 10 years, raise the debt ceiling by $1 trillion and set up another $1.8 trillion in cuts by the end of this year,” The Hill reports.

(But read the statement carefully. It says “the President’s senior [advisers] would recommend that he veto this bill.” It doesn’t say the president would veto it, just that adviser would recommend he do so.)

“Financial institutions across the country were reviewing their holdings, preparing contingency plans, and working to calm anxious investors as the government moved another day closer to defaulting on its financial obligations,” the Boston Globe reports. “While most banks and investment firms expect Congress to strike a deal, they are nonetheless preparing for what might happen if lawmakers fail to lift the debt ceiling and avoid a default by next week’s deadline.”

The Wall Street Journal makes the same point. “While companies generally expect Washington to resolve the debt-ceiling impasse at the last moment, they are lining up extra sources of financing, and carefully husbanding cash just in case a deal falls through. All the uncertainty comes just as businesses were starting to spend some of their record piles of cash. The confusion is also giving them another reason to delay hiring and investment.”

“Voters will get the chance to decide whether Ohio can opt out of the national health care overhaul after the state’s top election official said yesterday that opponents of the federal law have enough signatures to put a constitutional amendment on the Nov. 8 ballot,” the AP writes. “Secretary of State Jon Husted determined that supporters of the amendment, which would prohibit Ohio from participating in the federal Affordable Care Act, had gathered 427,000 valid signatures. They had submitted more than 546,000 and needed roughly 358,000 validated to make it onto the ballot.”