December 19, 2012
So far Congress has not resolved the fiscal cliff negotiations, and financial ratings firm Fitch Inc. recently announced that it could downgrade the U.S. credit rating if no deal is made. Last year Standard and Poor’s (S&P) downgraded the U.S. credit rating from AAA to AA+, so if Fitch follows through on its suggestion, it would be the second credit rating agency to...
December 04, 2012
The biggest debate in Congress these last weeks has centered on the so-called "fiscal cliff." The term "fiscal cliff" was popularized in February 2012 by U.S. Federal Reserve Chairman Ben Bernanke, when he stated that if the tax cuts set under President George W. Bush are allowed to expire at the end of the year, the resulting tax increases would drive the country into...
November 01, 2011
The U.S. federal deficit can be monitored here. Its likely to tick up over 15 trillion by the end of November 2011, and will continue rising until the government finds a way to cut its spending, raise more in taxes, or both. The current 15 trillion debt is owed primarily to American citizens, China and Japan...
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