Connecticut Capital’s Bond Rating Cut to Near-Default Levels Rating agency Standard and Poor’s (S&P) has cut Hartford, Connecticut’s credit rating to near-default levels, warning of an imminent default. S&P has cut the city’s credit rating from B- to CC. This is the second time in two weeks that S&P has lowered the rating for Connecticut’s capital city.
State Governments Found to Be $645 Billion Short for Healthcare Liabilities U.S. state governments will owe more money in retiree health benefits than previously believed. A recent change in accounting guidelines has uncovered that U.S. states may be short by a whopping $645.0 billion for their future healthcare-related liabilities.
American Government Owes More than Any Other Country in the World Fears of default may have temporarily subsided after President Donald Trump raised the debt ceiling until December, but uncertainty continues to haunt the markets as investors worry about America’s growing debt problem.
Student Loan Debt Delays Home Buying for American Millennials The majority of American Millennials do not own a home, and feel forced to delay buying one, due to their hefty student loans.
U.S. Looking at Ways to Slash Corporate Taxes Despite Deficit While policymakers and businesses go back and forth on how best to cut corporate taxes and reduces rates, one thing is certain: In the near-term, revenue will suffer.
Debt Continues to Climb in the U.S. The U.S. has now officially passed over $20.0 trillion in debt, the highest it’s ever had in its existence.
Credit Card Debt Estimated to Hit $1-Trillion Mark by Year-End Credit card debt may be the biggest source of financial stress for Americans, yet American households are continuing to add more debt to their cards.
Debt Repayment Bigger Source of Stress than Housing or Healthcare Costs Debt repayment is the top source of financial stress for Americans, ahead of other expenses.
Four-Week T-Bills Priced at the Highest Yield Since 2008 The Donald Trump administration has a serious issue to address this month. Yields on short-term Treasury bills (T-bills) are continuing to surge ahead of the approaching debt ceiling deadline, as T-bills face heavy selling pressure. Meanwhile, demand for new bills is remaining low.
Moody’s Warns that U.S. Won’t Be Able to Regain High Credit Rating if It Defaults All three major credit rating agencies have now warned the American government to take action or face the consequences.