Monday saw President Barack Obama saying a lot of the country’s problems of high deficit and debts had been inherited by him at the time of his entry into the White House, something which sounded like the premise of his re-election campaign for the year 2012. While he was at a Democratic fundraiser, he made [...]

Monday saw distinguished investor and commodity bull, Jim Rogers telling CNBC that the United States is not even worthy of an AA-plus credit rating, forget AAA. According to him, the country did not have the capacity to pay off its debts and that Standard and Poor’s should have demoted its debt long ago. Labeling the [...]

Following months of political bickering, finally the lawmakers have been able to pass a bill which increases the debt ceiling and slashes spending. Now comes the difficult part. Though Congress has cut spending, it still needs to decide which agencies and programs would be given a lesser amount, because that is the actual point of [...]

With all the eyes and ears watchfully towards the clock ticking like never before, indicative of time passing by, proximity to the deadline increasing and no substantial ruling in sight, commodities are helplessly going haywire. As the debt deal standoff went on and a disheartening report pointed towards the growth rate of the economy being [...]

The provisional U.S. deal for averting a devastating debt default will only be a mild respite for the US economy which almost came to a standstill during the first half of 2011, and still hasn’t shown any signs of realistic pickup. If the plan of $2.4 trillion in spending cuts spread over a decade enjoys the support [...]

Increasing the prospects of non-payment by U.S. government would have witnessed your laughs pushing you out of the room until recently, when the political battle over lifting the cap on debt ceiling drew attention of the world on America’s government debt worth $14 trillion. Friday saw a major economist at High Frequency Economics, Carl Weinberg, saying [...]

With each day ticking closer to debt ceiling deadline falling next week and the Congress still adamant, who will be denied payment and who will be paid is the $14.3 trillion question. In case the debt ceiling is not raised by Tuesday, the Treasury has expressed its inability to make the payments of all the [...]

If the government is unable to raise the debt ceiling by next week, will it be able to send out the Social Security checks. It will be quite a trying time for the 28 million Americans who are expecting their payments to reach them by Aug. 3. The second half of the month would see [...]

Moody’s Investors Service slashed the credit rating of Greece by three steps, saying that bailout provided to the debt-laden nation by EU (European Union) will result in significant losses for the investors and ultimately a default. Long-term foreign currency debt of Greece was relegated to Ca from Caa1and this was their second lowest rating, as [...]

With the deadline to lift the cap on debt ceiling round the corner, and lawmakers at both sides of the aisle still digging into their heels, it is difficult to keep at bay concern about the repercussions of the “ripple effect” on the people. Individual investors — retirees in particular — are justly concerned. As [...]