News

News

Moody’s Reviews US Downgrade

Bloomberg
Jul 13, 2011

Moody’s Investors Service put the U.S. under review for a credit rating downgrade as talks to raise the government’s $14.3 trillion debt limit stall, adding to concern that political gridlock will lead to a default.

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Obama Threatens Social Security Checks

CBS News
Jul 12, 2011

President Obama on Tuesday said he cannot guarantee that retirees will receive their Social Security checks August 3 if Democrats and Republicans in Washington do not reach an agreement on reducing the deficit in the coming weeks.

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Boehner Rallies GOP Troops

Politico
Jul 12, 2011

Speaker John Boehner told a closed-door gathering of House Republicans on Tuesday morning that he was “pissed” over being unable to reach a “grand bargain” with President Barack Obama on making sweeping entitlement changes in return for an overhaul of the U.S. tax code.

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Taxes Upon Taxes

The Wall Street Journal
Jul 11, 2011

So the fondest Washington hopes for a grand debt-limit deal have broken down over taxes. House Speaker John Boehner said late Saturday that he couldn't move ahead with a $4 trillion deal because President Obama was insisting on a $1 trillion tax increase, and the White House quickly denounced House Republicans for scuttling debt reduction and preventing "the very wealthiest and special interests from paying their fair share."

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Obama Adviser: Unemployment Not Issue

The Hill
Jul 08, 2011

President Obama’s senior political adviser David Plouffe said Wednesday that people won’t vote in 2012 based on the unemployment rate.  Plouffe should probably hope that’s the case, since dismal job figures aren’t expected to get any better for Obama and the economy on Friday.

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Stocks Tumble After Jobs Report

CNBC
Jul 08, 2011

Stocks tumbled Friday after employment rose far less than expected, shattering hopes that the economy was starting to regain momentum following a soft patch in the first half of the year.

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Jobs Picture Worsens: 9.2%

CNBC
Jul 08, 2011

U.S. employment growth ground to a halt in June, with employers hiring the fewest number of workers in nine months, dousing hopes the economy would regain momentum in the second half of the year.

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Obama: Debt Talks Constructive

The Wall Street Journal
Jul 07, 2011

President Barack Obama on Thursday said he had a "very constructive" meeting with congressional leaders but suggested the two sides were still far apart on how to slash the country's deficit.

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Spending Or Revenue Problem?

Heritage
Jul 07, 2011

Since 1965, spending has risen constantly. Federal revenues have dropped recently due to the economic recession, but spending has reached a record high.

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A Debt-Limit Breakout

The Wall Street Journal
Jul 06, 2011

The debt-limit talks in Washington are bogged down in the hedgerows, with some Republicans insisting on a balanced budget amendment that can't pass Congress and President Obama insisting on tax increases that Republicans oppose. What this debate needs is a breakout strategy—to wit, Republicans should answer Mr. Obama's tax call by accepting his business tax increases in return for a lower corporate tax rate.

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