deficit
Obama budget targets tax revenuesPosted by RJ and Makay on Feb 13, 2012 |
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President Obama proposed today that the Alternative Minimum Tax (AMT) category be replaced by the so-called Buffett Rule, which targets wealthy Americans. The AMT, which was adopted in 1969 to target wealthy Americans that paid little or no taxes, was never indexed for inflation, so it eventually impacted more and more middle-class taxpayers.
U.S. credit outlook reduced to "negative"Posted by RJ and Makay on Apr 18, 2011 |
Though in the offing for some time, it's still a shock to see a credit agency move toward downgrading U.S. debt. Today, Standard & Poor's (S&P) Ratings Services reduced its outlook on the U.S. to "negative," potentially setting the stage for a downgrade from triple-A status in the near future.
"More than two years after the beginning of the recent crisis, U.S. policymakers have still not agreed on how to reverse recent fiscal deterioration or address longer-term fiscal pressures," explains S&P credit analyst Nikola G. Swann. The chance of a U.S. downgrade within two years is at least one in three, Swann estimates.
