Category Archives: Budget

Budget

Trade Deficit Increases –

Posted on 13. January 2012 by Jim Sutliff

According to the Commerce Department, the U.S. trade deficit increased by 10.4% to 47.8 billion in November.  The increase was larger than economists had expected and was the widest trade deficit since June.  Petroleum products accounted for a significant amount of the increase in … Continue reading →

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House Set To Approve Payroll Tax Cut –

Posted on 22. December 2011 by Jim Sutliff

House Republicans are set to approve a two month extension of the payroll tax cut.  House Republican John Boehner has come to an agreement with Democratic Senator Harry Reid.  The agreement would extend the tax cut for two months and begin … Continue reading →

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Italian GDP Contracts –

Posted on 21. December 2011 by Jim Sutliff

Italian third quarter Gross Domestic Product has fallen 0.2% from the second quarter.  This may mark the fifth recession for the Italian economy since 2001.  Although exports grew 1.6%, consumer spending declined 0.2% and investment contracted 0.6%.  In addition, Italy has taken steps … Continue reading →

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Payroll Tax Cut Extension –

Posted on 17. December 2011 by Jim Sutliff

The Senate passed a two month extension of the payroll tax cut.  On Saturday, the measure passed the Senate with a vote of 89-10.  The payroll tax cut amounts to a two percent drop from 6.2% to 4.2%.   An increase in fees … Continue reading →

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Euro Trades Lower –

Posted on 14. December 2011 by Jim Sutliff

The Euro fell below $1.30 in afternoon trading on Wednesday.  The Euro has not traded below $1.30 since mid-January of this year.  Traders are watching Standard & Poor’s for any indications of sovereign debt downgrades.  France is one of the … Continue reading →

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Budget Deal –

Posted on 12. December 2011 by Jim Sutliff

Republican and Democratic officials have agreed on a spending bill through October 1st 2012.  Specific details of the agreement are expected to be released on Tuesday.  The measure still requires approval of the Senate and the House of Representatives.  The current spending bill … Continue reading →

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Payroll Tax Bill Blocked By Senate –

Posted on 8. December 2011 by Jim Sutliff

A measure supported by the Democrats that would cut the payroll tax was blocked in the Senate.  The bill only received 50 votes and needed 60 votes to move forward.  The payroll tax on the first $110,100 would have fallen to 3.1% from … Continue reading →

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Euro Zono Fiscal Policy –

Posted on 27. November 2011 by Jim Sutliff

The integration of fiscal policy is an important step for Euro zone countries in solving their debt crisis.  A recent plan would utilize bilateral agreements instead of changing European Union treaties.  Bilateral agreements could make implemention of fiscal policy changes faster than the time … Continue reading →

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Belgium Downgraded –

Posted on 25. November 2011 by Jim Sutliff

Standard and Poor’s downgraded Belguim debt to AA.  The downgrade forced the 10 year yield to 5.832% in Friday trading.  Belgium debt started the week trading at 4.817%. To read a related Reuters article, please click here: http://www.reuters.com/article/2011/11/25/us-belgium-sp-idUSTRE7AO1F220111125 James Sutliff

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Spain Elections –

Posted on 21. November 2011 by Jim Sutliff

Elections in Spain signaled another shift in governments with the People’s Party winning 186 of the 350 seats.  The debt crisis is largely responsible for the results and the new government is expected to be fiscally conservative in their policy … Continue reading →

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Super Committee Deadlocked –

Posted on 19. November 2011 by Jim Sutliff

The Super Committee remained deadlocked on Saturday as Republicans and Democrats could not agree on a compromise.  Budget savings of $1.2 trillion are required by midnight on Wednesday.  If an agreement is not reached by the deadline it could send … Continue reading →

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Debt Super Committee –

Posted on 13. November 2011 by Jim Sutliff

The debt super committee has 10 days left before the November 23rd deadline.  The 12 member committee comprised of six Democrats and six Republicans must come to an agreement by the deadline or automatic spending cuts will take effect.  In addition, inaction … Continue reading →

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Italy Set To Vote On Budget –

Posted on 11. November 2011 by Jim Sutliff

Italy is set to vote on debt reduction measures to lower their debt level and increase investor confidence.  Currently, Italy has $2.6 trillion in debt and has a bond yield near 7%.  Prime Minister Silvio Berlusconi is expected to step … Continue reading →

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ECB Italian Bond Purchases –

Posted on 5. November 2011 by Jim Sutliff

The European Central Bank is discussing the possibility of halting Italian bond purchases.  European Central Bank officials are determining if the Italian government is following through with the changes it promised the European Union.  The bond buying program by the ECB has … Continue reading →

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Greek Referendum Plan –

Posted on 1. November 2011 by Jim Sutliff

The Prime Minister of Greece surprised the financial markets by calling for a referendum on the bailout plan.  Prime Minister George Papandreou has suffered a loss of some support in his party.  The call for a referendum has sent the Euro and … Continue reading →

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