This monthly figure indicates whether or not scaled down spending is reducing the deficit of the United States or not. Though the Budget Balance figures widely vary, Tuesday we are expecting to see a deficit of -$220 Billion, the highest deficit since last March.
With the current deficit in America, a good question to ask is? What is the best way to balance the budget? Do we raise taxes or cut spending?
Spending cuts are the preferred method of reducing a budget but this has not been happening. Another option would be to continue to raise taxes on the more wealthy Americans. This is very dangerous to an economy. Raising taxes on the wealthy causes some people to lose their incentive to start businesses since every business needs to be able to expect a significant return on investment. Stunting business creation and hindering already functional businesses by limiting their resources, taxing the rich more is not the answer.
America this week A busy week is in store for the U.S. Dollar. The markets will try to determine whether or not last week’s unemployment figures will continue to empower the U.S. Dollar in the Forex market.
With 6 news events on Wednesday for the USD, 7 news events on Thursday, and 8 events for the USD on Friday, it is safe to think that a volatile U.S. Dollar is a strong possibility in the coming days.
Where Is the U.S. Dollar Going now? In result of everyone being intrigued with the U.S. Dollar’s good news from last week, it could be sensitive to any released news announcements, even minuscule ones. If we have a week full of bullish news for the U.S. Dollar, it’s possible that the USDJPY (depending on Yen weakness) could continue to make it’s way towards 97.00. The Japanese Yen Weakness in the Forex Market has been incredible recently, and isn’t showing many signs of stopping.
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