Apparently, the term “brinkmanship” came widely into use during the Cold War, when both sides sought to push their opponent to the brink of outright war in order to convince them to back down.
The White House and congressional leaders reached a two-year budget deal overnight that would lift mandatory sequestration cuts on both defense and domestic spending and raise the federal debt ceil
A U.S. budget accord on track to win passage in Congress doesn’t change the view of Moody’s Investors Service on America’s top Aaa rating because it leaves medium-term deficits largely unaltered, according to Senior Vice President Steven Hess.
The recent rise in interest rates foreshadows the unavoidable demise for the dollar. Not only did the rise in rates have an immediate effect on the housing recovery, it also indirectly exposed the system to another vulnerability, that is, the Fed is not only the lender of last resort but will be the lender to the spender of last resort.
With less than three weeks until their deadline, U.S. budget negotiators have yet to break an impasse over revenue, prompting lawmakers to draft plans to blunt $19 billion in defense cuts set to start in January.
