Wall Street climbs on economy bets as it looks past "cliff"

Comments (3)
ralphos wrote:

So they want to avoid risk but bet against obstructionism silly.
Nothing good is coming same obstruction as before election party of no.
Until America cleans up the house and senate with one party.
No matter what party that is. Both side will from now on be the party of no. From now on it will have to be all or nothing elections you dont vote your whole ticket you want gridlock. dont want gridlock vote you whole ticket. There is no alternative anymore.

Dec 18, 2012 2:20pm EST  --  Report as abuse
windpower wrote:

The immediate extension of the Production Tax Credit (PTC) must be part of the final agreement of the fiscal clif negotiations.

Equipped with the production tax credit (PTC), the wind industry has been able to lower the cost of wind power by more than 90%, provide power to the equivalent of over 12 million American homes, and foster economic development in all 50 states.

American wind power has created tens of thousands of jobs and helped spur a manufacturing renaissance. Today nearly 500 U.S. manufacturing plants located in all regions of the country serve the industry.

All of this has been accomplished largely with an effective tax policy in the form of the production tax credit.

With the threat of the PTC’s expiration, wind project developers are not making plans in the U.S. and American manufacturers are not receiving orders. Job layoffs have started already, which could total up to 37,000 jobs lost.

Without an immediate extension of the Production Tax Credit, the wind industry is facing the recurrence of the boom-bust cycle it has seen in previous years when the PTC was allowed to expire.

David Ward, American Wind Energy Association

Dec 18, 2012 2:37pm EST  --  Report as abuse

But wasn’t the market supposed to go through the floor if we re-elected Obama?
Sterling Greenwood/AspenFreePress

Dec 18, 2012 3:32pm EST  --  Report as abuse
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