For the first time in the nation’s history, Standard & Poor’s downgrades US credit rating. The Morning Joe teams discusses the downgrade and how the global markets are responding.
Politics of the Economy – Effects of the S&P downgrade and impact on jobs and unemployment
The debt deal finally passes, but with the exception of an initial drop in spending, does not offer a solution to the deficit.
As the debt deadline of August 2nd approaches, the Morning Joe team takes a look at revenue vs. spending over the last 10 years, as well as the decrease in tax rates for the wealthiest 2% of Americans over the last 15 years, noting that if the debt deals closed even some of loopholes in tax […]
Senator Henry Reid reported that this weekend’s negotiations on the debt deal broke down again due to the Republicans’ insistence on a short term deal. The Democratic deal aims to compromise, proposing to raise the debt celing, cut $2.7 trillion over the next 10 years, but no tax increases. The Republicans counter with a 2-step plan, which […]
Will the plan be able to overcome resistance by the House Republicans?
The “Cut, Cap, and Balance” plan passed in the House but is expected to fail in the Senate. An alternative plan, known as the “Gang of Six” plan, is endorsed by both President Obama and Senator Tom Coburn (R-OK) and could be the grand bargain we have all been hoping for. Visit msnbc.com for breaking news, world […]
The Morning Joe panel discusses Rupert Murdoch’s testimony before Parliament, the attempted attack on Murdoch during the testimony and his wife Wendi’s quick reaction to protect him, and the likelihood that the Murdoch dynasty will survive in the face of this scandal. Visit msnbc.com for breaking news, world news, and news about the economy
Moody’s places US debt rating on review for downgrade, increasing the pressure to reach a deal to raise the debt ceiling, while tension mounts between President Obama and Rep. Eric Cantor (R-VA) as negotiations once again failed to bring a plan to fruition.
Steve Rattner discusses the sources of the current debt crisis, noting that the $14 trillion of total outstanding debt is only the tip of the iceberg; when the figures for unfunded Social Security liability and unfunded Medicare liability are taken into account, the figure is even more staggering.
