Category Archives: Economy

Economy

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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Oil Sands Pipeline Bill –

Posted on 27. July 2011 by Jim Sutliff

The Republican controlled House passed a bill that would require the Obama administration to approve or deny a permit for an oil sands pipeline by November 1st.  The bill passed the House with a vote of 279-147.  The Canadian pipeline would provide … Continue reading →

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Moody’s Lowers Credit Rating For Greece –

Posted on 25. July 2011 by Jim Sutliff

Moody’s lowered the credit rating for Greece and indicated that they will likely be in default.  After the debt exchange of the EU rescue package, Moody’s may raise the credit rating.  Standard & Poor’s and Fitch rate Greece similarly to … 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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Boehner Predicts Compromise –

Posted on 21. July 2011 by Jim Sutliff

Republican John Boehner predicted that the GOP will compromise on raising the debt ceiling.  The House Speaker expects a majority of the Republicans will approve a modified plan proposed by the Senate even without a balanced budget amendment.  According to Democratic … Continue reading →

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States May Face Downgrade –

Posted on 19. July 2011 by Jim Sutliff

Moody’s has indicated that bond ratings of some states may be downgraded if the debt limit is not raised.  The states that depend heavily on federal revenue are likely to be hurt most by a default.  Five states with high bond ratings that … Continue reading →

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Republican McConnell Offers Debt Plan –

Posted on 12. July 2011 by Jim Sutliff

Republican Senator Mitch McConnell has a backup debt plan in the event that a broader compromise isn’t reached.  The McConnell debt plan would raise the debt ceiling in three increments over the next 18 months.  The plan is a backup … Continue reading →

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Obama News Conference Set For Monday –

Posted on 10. July 2011 by Jim Sutliff

The debt negotiations between Republicans and Democrats have broke down and are scheduled to start again on Monday morning.  In addition, Obama is set to hold a press conference relating to the debt negotiations at 11 AM on Monday morning.  To read … Continue reading →

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Republicans Talk Taxes –

Posted on 6. July 2011 by Jim Sutliff

Republican Representative Eric Cantor indicated that there could be a compromise on tax loopholes.  Republicans and Democrats have been in talks about raising the $14.3 trillion debt ceiling and have been negotiating tax loopholes, tax increases, and spending cuts.  The … Continue reading →

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U.S. Firms Head For Tax Havens –

Posted on 24. June 2011 by Jim Sutliff

U.S. firms are heading to tax havens in greater numbers than in the past.  Increased regulations and tax burdens are factors considered by companies that are going public or relocating.  Bermuda and the Caymen Islands are two popular locations for … Continue reading →

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Deficit Negotiations –

Posted on 20. June 2011 by Jim Sutliff

Negotiations on the deficit and the debt ceiling are making progress in Congress.  Democrat Senator Dick Durbin indicated that a delay could force interest rates higher.  Democrats are attempting to raise the debt ceiling and Republicans are proposing budget cuts to lower the … Continue reading →

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Free Trade Deals Set To Pass –

Posted on 16. June 2011 by Jim Sutliff

Congress is set to pass free trade deals for South Korea, Columbia, and Panama.  The free trade deals are expected to be sent to Congress from the Obama administration.  The trade agreements have strong support in the Republican controlled House and enough … Continue reading →

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Wall Street Regulations –

Posted on 9. June 2011 by Jim Sutliff

At a public forum on June 7th, Jamie Dimon questioned Bernanke about Wall Street regulators.  The amount of regulation came into question as well as the end result possibly being a slowdown of the U.S. economy. To read a related Bloomberg article, … Continue reading →

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Debt Ceiling Increase Voted Down –

Posted on 1. June 2011 by Jim Sutliff

A measure that would have increased the U.S. debt ceiling by $2.4 trillion was voted down in the House of Representatives.  The House voted 318-97 with 236 Republicans and 86 Democrats voting against the legislation.  For passage, the measure required 277 votes or two thirds … Continue reading →

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