U.S. Energy Prices

President Obama's focus was on gas prices today in his weekly radio address. High gas prices have affected inflation and President Obama says he wants to eliminate tax subsidies to gas companies to ease the burden on U.S. consumers.

New York Times, April 23, 2011
The Politics and Government Blog of The Times: Weekly Address

Dollar Weakens

It is no surprise that the dollar weakened this week against its basket of currencies in the ICE Index. Relief for the U.S. will not come until the budget debate is under wraps and the debt ceiling is decided on.

Concurrently, Europe and the euro continue to strengthen. The ECB’s announcement of an increase in rates has added momentum for the region. Additionally, the Eurozone’s control of Greece, Ireland, and Portugal, all under the care of the EU – IMF aid fund, has calmed the zone’s worries of a widespread contagion.

Wall Street Journal, April 22, 2011

Dollar Tumbles to Precrisis Levels

The Housing Market

Housing market prices fell in March. The median price decreased to $159,600, which was down 6% from a year earlier.

Wall Street Journal, April 21, 2011
Existing-Home Sales Tick Up, but Prices Slip

Treasury Yields

Standard and Poor's outlook on U.S. government debt pushed the yield on the 10-year treasury note to 3.354%. Yields on the 30-year note moved to 4.436% and the two-year note yielded 0.653%.

Wall Street Journal, April 20, 2011
A Silver Lining to S&P's Cloud

A Closer Look at U.S. Federal Debt and the Debt Limit

The U.S. federal debt limit was last increased to $14.294 trillion on February 12, 2010. That federal debt limit is expected to be exceeded by mid-May to June and the 2011 ending estimated debt is $15.476 trillion. Federal debt ending 2010 was $13.5 trillion with $4.5 trillion held by government accounts and $9.0 trillion held by the public.

Analytical perspectives from the White House’s Office of Management and Budget website provide further breakdown on U.S. federal borrowing.

Wall Street Journal, April 19, 2011

S&P Cuts U.S. Ratings Outlook to Negative

Rating Agency Changes Outlook on U.S. Debt

Stocks fell following Standard and Poor's announcement of a change in outlook on U.S. government debt. Falling 1.1%, the need for budget cuts and resolution on the debt ceiling was factored in.

Wall Street Journal, April 18, 2011
Release: S&P Cuts U.S. Ratings Outlook to Negative

U.S. Budget Debate

The debate over the U.S. budget will have an impact on the 2012 election. Democratic and Republican party values will be significantly brought to light. Two areas of focus during the debate will be Medicare and Social Security.

New York Times, April 17, 2011
The Budget Debate, Revealed