Here's the official S&P downgrade report on US debt. Downgrade is from AAA to AA+. There's zero (notta, zilch) financial information or criteria in the report. The summary is that S&P is just worried about the congressional / political environment in US congress since it ...
The article provides a good perspective on the debt and politics of it.
and of course he's right ... that is, he provides a rational reason why the gov't now focusing on "jobs" growth is bound to be more rhetoric than providing any gov't help.
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72.5% of House Republican's voted for the compromise bill. Less than 1/3rd voted against it.
50% of voting House Democrats voted in favor of the compromise bill (5 democrats didn't vote). Half voted against it.
Nearly 50% more of the Republican's voted in favor than the Democrats did.
The House GOP appears to ...
In Perry v U.S. the Supreme Court decided in favor of the plaintiff (Perry) and against the U.S. Congression Law that had reduced the value of ...
Congress already has all the power of the federal purse it can possibly use... exclusive power of spending authority and taxing authority. Why on earth would it therefore want to limit its own power?
Well, the fact of the matter is it wouldn't want to limit that power. No body of gov't, in any kind of gov't, ...
I'd heard something about executive authority under the constitution to unilaterally ignore the debt ceiling limit imposed by congress. I was vacationing at the time and listening to the news broadcasts wasn't high on the agenda nor was the inebriated state conducive to same.
Anyway, it appears that ...
There's got to be a future's market for this event, right?... From what I can find on purchase of 5 year gov't bonds at present investors (purchases) have not made any substantive changes in pricing or yields yet. This can be interpreted two ways .... 1) investors cumulatively don't believe congress won't raise the debt ...
Basically, he says there's no good reason for Obama and Democrats to negotiate reductions in spending on social programs in return for GOP votes to raise the debt ceiling. Why no good reason? Because if it came right down to the wire Wall Street is the one that would suffer the most in the long term if the US defaulted ...