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Wall Street Steward Blog

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Raising the Debt Limit

The clock continues to tick towards the August 2, 2011 deadline when the United States debt ceiling limit will be reached. This limit is a key element of U.S. Government financial management. The U.S. Government is expected to receive about $175 billion in tax revenues for the month of August, but has $310 billion in monthly obligations that it needs to meet. As a result, the $135 billion in monthly shortfall is usually borrowed via the issuance of U.S. Treasury bonds. However, once the debt ceiling is met, the U.S. Government will not be able to issue new debt and will therefore, have to make significant decisions as it relates to what $135 billion or 44% of its “bills” it will delay payment on. That is, of course, if the debt ceiling limit is not raised by Congress and signed into law by the President.

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The Unwelcome House Guest

Have you ever had a houseguest that immediately “wore out his welcome?”  You know the one…as in the one you want to leave as soon as possible.  No matter how short their length of stay, it is still too long in your book. 

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2011 Mid-Year Outlook: A Mix of Clouds and Sun

So far in 2011, we have not seen the dark storms of 2008 or the bright skies of 2009 and 2010. From an economic and market perspective, the year 2011 can be characterized instead as having experienced patches of clouds and sun with some ups and downs in the economy and markets. Overall, the investing climate of 2011 has been favorable. Two years after the green shoots of economic growth were first evident in mid-2009, they have blossomed and taken root