The U.S. budget deficit is likely to fall by $60 billion in 2015 due to strong revenue gains, the Congressional Budget Office said on Tuesday, enabling the government to stave off default without a debt limit hike perhaps through early December.
The U.S. House passed and sent to the Senate a much-delayed bill to set agricultural policy for the next five years, as a coalition of rural Republicans and urban Democrats overcame objections about farm subsidies and food-stamp cuts.
Why is the Justice Department suing Standard & Poor's for mis-rating structured credit securities before the financial crisis, and not suing Moody's, which gave a lot of the same products the same ratings? I have a theory, but Standard & Poor's has another, and theirs is a corker:
The House passed the first bipartisan U.S. budget in four years yesterday, clearing the way for final Senate passage next week to ease $63 billion in spending cuts and avert another government shutdown.
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.