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Local Economic Observer Critical of White House's "Default" Statement


HOLLAND, MI (WHTC) - The quarterly earnings season began with Alcoa’s statement that matched Wall Street estimates in earnings and exceeded predictions in revenue. Investment Adviser Kevin Clark of the Holland Office of Raymond James, in an appearance on Wednesday's "WHTC in the Morning" program, told host Red Kingman that a jump in stocks as a result of this report was on the basis of this being more of a forecast than a recap. While the nation catches its economic breath with last week’s resolution of the Fiscal Cliff stalemate, remarks by White House Press Secretary Jay Carney about congressional Republicans not to "flirt with default" in upcoming negotiations over raising the federal debt ceiling were “irresponsible,” according to Clark, who added that that the focus of federal economic discussion should be maintained on growth and job creation, which he believes will “ultimately solve the debt problem in the United States.” Clark chats about the markets and the economy every Wednesday morning at 7:40 AM on Holland's Hometown Station.