In the US:
The US debt ceiling has been a hot topic. Obama and republicans have clashed over requests to raise the debt ceiling and plans to reduce government spending and to raise taxes. If a new deal is not made by early August we may find the world's foremost government defaulting on its debts - not good news.
In the UK:
Across the pond in the UK figures have been released by the ONS (Office for National Statistics) of the Q1 GDP showing 0.02% growth. This figure is way below forecasts of 1.7% growth for 2011. Analysts put this down to negative factors such as the Japanese Tsunami, however they also note the positive role the royal wedding had on GDP growth.
Kind regards,
Sam
I read somewhere that even the IMF told the US to hurry up with the talks about the debt ceiling as it could have quite big consequences on the world market.
ReplyDeleteI got a hard time understanding how the royal wedding could stunt the growth. Ours reacted positivly to our last royal wedding due to things as tourism and world media coverage and such.
ReplyDeleteThe royal wedding was a just a factor. I Apologise for not making it distinct as a positive factor.
ReplyDeleteHope they give the UK some tax breaks and an incentive to spend spend spend!! The tsunami in Japan also stopped a lot of trade I beleive for the UK, well slowed it down at least
ReplyDeleteYou know... I think I am going to have a talk with my credit card company... I think they should raise my credit limit in proportion to the raise of the debt ceiling... Seems fair.
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