Category Archives: Budget

Budget

S & P Downgrades Spain; Barcelona –

Posted on 18. October 2011 by Jim Sutliff

Standard & Poor’s cut the debt rating for Barcelona to AA- with a negative outlook.  The downgrade was expected after Standard & Poor’s cut the sovereign debt rating for Spain.  Debt for Spain and Barcelona can expect another downgrade if economic conditions do … Continue reading →

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Moody’s Downgrades Italian Debt –

Posted on 4. October 2011 by Jim Sutliff

Moody’s downgraded Italian government debt from Aa2 to A2 with a negative outlook.  Moody’s cited the increase in long-term funding risks for Euro nations with high levels of debt.  Also, the weak global economic outlook was part of the rationale for … Continue reading →

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Senate Avoids Shutdown –

Posted on 28. September 2011 by Jim Sutliff

The U.S. Senate voted 79-16 in support of legislation to finance the government.  The legislation also includes $2.65 billion in disaster assistance.  The measure will finance the government through November 18th.  The House is expected to vote on the legislation on … Continue reading →

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Currency Legislation –

Posted on 27. September 2011 by Jim Sutliff

Democratic Senator Harry Reid has indicated that he will introduce legislation relating to undervalued currencies.  The measure will address the effect that undervalued currencies have on trade.  The Chinese Yuan is one currency that is considered  to be undervalued and acting as a subsidy to … Continue reading →

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Government Shutdown Showdown –

Posted on 25. September 2011 by Jim Sutliff

The Senate voted 59-36 against a House spending bill.  The Republican bill in the House was designed to cut $1 billion in spending to pay for disaster relief.  Senate Democrats are expected to move for a vote on an alternative … Continue reading →

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Senate Increases Debt Ceiling –

Posted on 10. September 2011 by Jim Sutliff

The Senate voted 52-45 to increase the debt limit by $500 billion.  The vote came on Thursday night after the jobs speech by Obama and before the NFL season opener.  Democratic Senator Ben Nelson voted with the Republicans and Republican Senators Corker … Continue reading →

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Job Growth Stalls –

Posted on 2. September 2011 by Jim Sutliff

The Labor Department released employment figures for the month of August and job growth remained flat.  The data sent the Dow Jones Industrial Average down almost 200 points in afternoon trading.  Another round of stimulus could be discussed at the next meeting of … Continue reading →

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Treasuries Gain In August –

Posted on 31. August 2011 by Jim Sutliff

Treasuries posted their biggest monthly gains since December 2008.  Investors looked towards the safety of US Treasuries even as Standard & Poor’s downgraded US debt.  The yield on a 10 year note fell 60 basis points in the month of August as compared … Continue reading →

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Fitch Rates US Debt AAA –

Posted on 17. August 2011 by Jim Sutliff

On Tuesday, Fitch Ratings announced that they were keeping U.S. debt at a AAA rating.  In addition, the outlook was kept at stable.  Moody’s has U.S. debt rated AAA with a negative outlook.  Fitch Ratings indicated that the outlook could change to negative if Congress … Continue reading →

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Munis Downgraded –

Posted on 9. August 2011 by Jim Sutliff

Standard and Poor’s downgraded over 11,000 municipal bonds that are closely tied to the federal government.  The downgrades in the muni market were expected after Standard and Poor’s downgraded U.S debt last Friday.  The munis will now have the AA+ … Continue reading →

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Debt Concerns Grow –

Posted on 6. August 2011 by Jim Sutliff

World leaders are meeting this weekend to discuss the debt crises in Europe and the United States.  The downgrade of U.S. debt by Standard and Poor’s on Friday will test the strength of financial markets.  Also, markets may negatively react if the … Continue reading →

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Senate Supports Debt Plan –

Posted on 2. August 2011 by Jim Sutliff

The Senate voted 74-26 in support of the debt plan.  The plan was supported by 46 Democrats and 28 Republicans.  The plan is expected to cut spending by $2.4 trillion and raise the debt ceiling by $2.1 trillion.  However, most of … Continue reading →

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House Passes Debt Legislation –

Posted on 1. August 2011 by Jim Sutliff

The House passed legislation to raise the debt ceiling with a vote of 269-161.  Only 66 Republicans opposed the bill and 95 Democrats supported the legislation.  The legislation will raise the debt ceiling by $2.1 trillion and cut federal spending by $2.4 trillion.  … Continue reading →

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Congress Close To Debt Deal –

Posted on 31. July 2011 by Jim Sutliff

Congress is close to an agreement on a deal to raise the debt ceiling.  Republican and Democratic Senators are meeting on Sunday in an attempt to finalize a deal before the financial markets open on Monday.  The Dollar fell against all … Continue reading →

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Republican Camp Talks Debt Deal –

Posted on 23. July 2011 by Jim Sutliff

Republican Congressman Dave Camp predicted that there will be a compromise to raise the $14.3 trillion debt ceiling by August 2nd.  Camp would like the debt deal to include an overhaul of the tax code.  In addition, Camp has indicated that any … Continue reading →

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