By Bill Wilson –  According to a recent analysis by Reuters’ Steven Johnson and Daniel Bases , a threatened credit rating downgrade of U.S. treasuries by S&P, Moody’s, and Fitch could drag down state and municipal bonds, leading to higher borrowing costs at a time when governments are already strapped for cash. “All three major ratings agencies have said […]

Senator Tom Coburn, a member of the ‘Gang of Six,’ has admitted that the bill, if all of its $3.7 trillion in savings over ten years were even realized, would only  represent 40 percent of the solution to restoring order to the nation’s fiscal house.  Coburn said even if enacted, Congress is ‘going to have to change it because this is just 40 percent of the way.’  Only 40 percent of a […]

By Bill Wilson – Today, the House of Representatives is voting on the “Cut, Cap, and Balance Act,” legislation that would cut $111 billion out of the budget immediately, cap spending to a percent of the Gross Domestic Product, and send a Balanced Budget Amendment to the states […]

NRD Editor’s Note: After submission of this Op-Ed to the Washington Examiner , further details of the Cut, Cap and Balance legislation that will come to the floor were made available. The immediate cuts are approximately $111 billion for fiscal year 2012, and not hundreds of billions […]

Yesterday, Standard & Poor’s issued a dire warning stating a 50 percent likelihood that the nation’s gold-plated Triple-A credit rating will be downgraded in the next 90 days.  Not because of any failure to increase the debt ceiling, but because it appears there will be […]

By Bill Wilson – If the $14.294 trillion debt ceiling is not raised, and the U.S. misses any interest payments, credit rating agency Moody’s has threatened to downgrade the nation’s Triple-A credit rating.  S&P has added its two cents, citing a 50 percent chance of a downgrade in […]

By Robert Romano – If congressional Republicans never had any intention of using the increase in the $14.294 trillion debt ceiling as leverage to extract big spending cuts from the Harry Reid-led Senate and the Obama Administration, they had ample opportunity after the 2010 elections to say so. […]

The House needs to do its job, pass an increase in the debt ceiling attached with hundreds of billions of immediate cuts to the 2012 budget, and send it to the Senate.  Then, if there needs to be anyone to blame, it will be Harry […]

By Bill Wilson – While Obama sits here and plays rhetorical games with the $14.294 trillion debt ceiling, attempting to sucker Republicans into increasing taxes, there are strong headwinds from across the Atlantic that threaten the U.S. economy. Greece’s default is inevitable. And the fate of the euro […]

By Rick Manning – For the second month in a row, the employment situation released by the Obama administration reveals that our nation’s economy is in severe distress. Last month’s data was universally described as disastrous and June’s is even worse when you look behind the already […]