Tag Archives: Tea Party

Why Tea Party is Stubborn

By Andrew Busch | Published: July 13, 2011

While I’m not a huge fan of quoting MSNBC commentators, a Politico editorial by Joe Scarborough provides a key to understanding of what is happening with the US debt negotiations, the extraordinary growth in the US government and why the Tea Party’s influence is so strong.

Here’s the history lesson: “In 1980, the annual budget was $590.9 billion. By the beginning of the next decade, the yearly budget was $1.253 trillion. In 2000, the budget was up to $1.789 trillion in annual outlays, and by 2010, it was up to $3.456 trillion. After a decade of Obama’s budgets, the CBO … …READ MORE

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Government Shut Down Will Happen

By Andrew Busch | Published: April 7, 2011

The US government is careening towards a shut down as Democrats and Republicans can’t agree on a 2011 budget plan. I believe a shut down will occur. For the first time since 1973, the Congress didn’t pass a budget or spending laws for FY 2011 which began last fall. Since then, Congress has been passing a series of continuing resolutions (CR) to fund the government on a short term basis. The last CR ends tomorrow.

Remember, the President begins the process by proposing a broad outline for the budget with spending and revenue levels. Then, the US House of Representatives … …READ MORE

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Top 3 Trades for 2011

By Andrew Busch | Published: December 21, 2010

Warning Holiday Alert! Last BU until next Monday!

Happy Holidays….even if you are currently stuck in a European airport.

Top 3 Trades for 2011

1. Sell 5 year Treasury note before every unemployment data day. This is a play on the ending of the Federal Reserve’s quantitative easing program. The US economy has been steadily improving after the second quarter’s dip to 1.7% due to the tightening of credit conditions courtesy of the European debt crisis. For the first three quarters of the year, the US is averaging about 3% and Q4 should be similar (released Jan. 28th).

As everyone … …READ MORE

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UK Tea Party

By Andrew Busch | Published: October 20, 2010

Today, UK Chancellor of the Exchequer George Osborne said he will cut debt interest costs by more than 5 billion pounds by 2015. The goal is to eliminate the 156 Gbp deficit and bring back fiscal probity to the island nation. The Cameron government is going to cut public sector employment by 490,000 by 2014-15, freeze pay for the remaining employees for 2 years and keep their pension contributions to just 3%. (In the upside down world of fiscal metrics, this 3% increase will be called a reduction from a larger pension increase that was promised.) As Osborne points out … …READ MORE

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Following The Father of Modern Economics

By Andrew Busch | Published: March 3, 2010

By maintaining a quixotic filibuster against a Senate jobless bill, Senator Jim Bunning lit the fire of Democratic and Republican hyperbole against him. From Democratic Senate Majority leader Harry Reid to Republican Senator Olympia Snowe, they all asked him to relent and simultaneously criticized his one-man party of no. The Democrats seized on the filibuster as an example of Republican obstructionism and a strategy of block and delay. Under tremendous pressure from both sides, Bunning relented and the Senate passed a bill extending jobless benefits through April 5th.

This situation underscores exactly how difficult it will be for anyone in … …READ MORE

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