Wall Street Doesn’t Seem To Be Exepcting Much From The Super Committee
One of the factors that has been leading some to predict that the Joint Select Committee on Deficit Reduction (aka, the super committee) will come up with a deficit reduction plan of its own is the belief that Wall Street will be disappointed if that doesn’t happen and that the major averages will suffer immediately… Read more »
Happy Fiscal New Year
October 1 was the first day of the new federal fiscal year. All of us wish you good health and prosperity in the year ahead. May your personal revenues exceed your outlays. FYI…The start of the federal fiscal year was changed in 1974 from July 1 to October 1 when the Congressional Budget and Impoundment… Read more »
Tea Partiers Want a New Dollar Coin. Why Can’t they Listen to the Free Market?
Over at Talking Points Memo, Ryan Reilly has an intriguing post about the interest of some tea partiers for a new circulating dollar coin because it supposedly will save the federal government money. This follows a story in the Huffington Post from a week ago about how Rep. David Schweikert (R-AZ) introduced a bill that would… Read more »
Boehner, Cantor In Big Trouble After Big Continuing Resolution Defeat
House Democrats last night didn’t do what they have done so many times before since the 2010 election: they didn’t provide the House leadership with the votes it needed to pass a budget bill. A combination (you can’t really refer to it as a “coalition” because they weren’t working together) of tea party Republicans and… Read more »
August Budget Agreement Is Already Out Of Date
When we last left the federal budget debate in early August, the Budget Control Act — the agreement to raise the federal debt ceiling and reduce the deficit — had been enacted into law and Wall Street and the rest of the country were supposedly breathing a deep sigh of relief because, at least as… Read more »
