Declaring that everything is "on the table," a group of Republicans from the party's moderate and conservative wings are urging their colleagues to put their ideologies aside in order to find a solution to the "fiscal cliff."
According to media reports, the behind-the-scenes picture is become increasingly erratic, as Congressional Republican leaders rebuff efforts from both their own conference and conservative leaders outside of Washington, D.C. There are two major forces behind the friction: a greater willingness to compromise with President Barack Obama and his Democratic allies, and the fact that Republican House Speaker John Boehner of Ohio appears to be losing control over his Tea Party-infused caucus.
As a result, some prominent Republicans have come out of the woodwork to try and defuse the situation, including former U.S. Senator and one-time Commerce Secretary nominee Judd Gregg. Describing the situation as a "fork in the road," Gregg advocated that the two sides "work out a deal," leaving out any reference of yielding to the Obama administration's demands for tax hikes and the unilateral power to extend the debt ceiling as often as they choose.
Another disconcerting fact for Congressional Republicans is the fact that, according to a new Quinnipiac poll, the president's approval rating has risen to roughly 53 percent. While not definitive, it suggests that Americans are seeing President Obama's leadership as a positive force whereas the current Gallup polling of Congress has about 18 percent of respondents replying favorably.
While everyday Americans await the end result of the ongoing negotiations, you, the investor, can take action now to protect your hard-earned wealth. The best thing you can do for yourself is to diversify your portfolio, which may include assets in cash flow real estate. By owning rental properties, you can be sure that you'll receive income each month. Visit GreatWealthStrategies.com today to receive your very own "Free Game Plan Report" and start planning for the worst-case scenarios.