budget

Obama’s evolution: Behind the failed ‘grand bargain’ on the debt – The Washington Post

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Obama’s evolution: Behind the failed ‘grand bargain’ on the debt View Photo Gallery —  In the summer of 2011, the White House was embroiled in a battle with Republican leaders over legislation to increase the debt ceiling and avert the country from defaulting. By Peter Wallsten, Lori Montgomery and Scott Wilson, Published: March 17 President Obama had just arrived home, walking across Lafayette Square after attending Sunday services with his family at St. John’s Church. In the West Wing, Obama ducked into the spacious office of his chief of staff, where he found his negotiating team huddled with two leading Republicans … Read more

France Seeks New Deficit Battle Plan

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PARIS—The French government pledged Wednesday to consider fresh tax rises, spending cuts and other budget measures to ensure the country doesn’t deviate from a challenging deficit-reduction trajectory as market concerns that France’s top-notch creditworthiness is at risk accelerated. French bank shares were hammered Wednesday also, with some traders citing the triple-A jitters. Shares in Société Générale were down over 18% in afternoon Paris trading and BNP Paribas shares slid over 10%. President Nicolas Sarkozy, who interrupted his summer holiday on the French Riviera for an unscheduled meeting with some of his cabinet Wednesday morning in Paris, will make decisions on … Read more

Senate group offers $3.75 trillion deficit cuts

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  By Richard Cowan WASHINGTON | Tue Jul 19, 2011 1:40pm EDT WASHINGTON (Reuters) – A bipartisan group of senators on Tuesday revived an ambitious budget plan that could provide new ideas for breaking the impasse in Congress over raising the country’s credit limit by August 2. Senate Budget Committee Chairman Kent Conrad, one of the six Democratic and Republican senators who have been working since last December on a deficit-reduction plan, said the proposed $3.75 trillion in savings over 10 years contains $1.2 trillion in new revenues. The so-called Gang of Six briefed about half of the 100-member Senate … Read more

Politicians Creating Crisis

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Politicians Creating Crisis     As the economy improves and Companies post record profits, the market remains suppressed, Gold is at an all time high and the doom and gloom talk continues. The only real chance of a global slowdown is from politicians addressing their agenda and not the issues. From the USA to Europe we are seeing more and more political posturing and less constructive progress. There are to many Government officials in Europe and the USA that presume they are qualified at some level to speak on the national and international financial system, the fact is most are … Read more