Austerity Watch Daily covers critical news about national sovereign debt, Credit Default Swaps, state and municipal deficit actions, and discussions about
the US deficit and debt.
Here are some highlights from media reports:
1. The spread on debt between German and Irish two-year paper hit an all-time
high of 825 basis points amid concerns that Ireland will miss the next
payment on its sovereign paper. Irish officials have rejected higher corporate taxes which makes a default more likely. This will likely cause similar concerns about the debt of other troubled EU nations.
2. A major fiscal battle has begun between the governor and state legislature in
Minnesota. The State House wants to set spending for the next fiscal
year at $3.6 billion and protect most funding for education. Gov. Mark Dayton has no such intentions. He has suggested raising taxes
3. Wall St. analyst Meredith Whitney is still a bear on state bond defaults.
She expects 25 to 50 sizable defaults among state and municipal debt.
It is still unclear whether a whether a state can declare bankruptcy.
Jonathan Berr and Douglas A. McIntyre
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.