‘Almost no chance’ Obama budget adopted: Moody’s

The Government Printing Office and Office of Management and Budget release FY2012 report.

President Barack Obama’s budget proposal would be “marginally positive” for U.S. credit ratings in the short term, but there is “almost no chance” Congress will pass the plan as it was presented, Moody’s Investors Service said yesterday.

In the longer run, the budget proposal fails to address key structural issues such as entitlement programs, Moody’s senior analyst Steven Hess said in a report. Some of the plan’s projections also are questionable, he added.

“These uncertainties, combined with the continued, elevated levels of debt, indicate that additional measures would be required to improve the government’s finances and debt position over the long term,” Hess said in the report.

Moody’s, which has recently warned about the rising likelihood of a negative outlook on the U.S. triple-A rating, noted that the estimated budget deficit of 10.9 percent of GDP for this year represents the largest shortfall since the World War II, resulting from the extension of the tax cuts introduced by former President George W. Bush.


News
Entertainment
Sports
Lifestyle
National

Call of Duty hoaxer blamed for $100K SWAT…

A heavilly-armed SWAT team and an army of police officers stormed a Long Island home fearing a grisly double homicide – only to find it…

National

Minnie Driver tweets naked celebrity snap to 'shut…

Actress Minnie Driver has responded to bitchy critics who sniped about her bikini body by Tweeting a naked picture of herself. The 44-year-old star of…

National

American middle classes no longer world's richest (guess…

America's middle classes are no longer the richest in the world – having been overtaken in the wealth stakes by their Canadian counterparts. For almost…

National

University of New Mexico running back arrested for…

By Joseph J. KolbALBUQUERQUE, New Mexico (Reuters) - A University of New Mexico football player has been arrested on suspicion of raping and kidnapping a…

Television

John Turturro tags in for Robert De Niro…

The cast of the courtroom drama miniseries has undergone yet another shift. Following Robert De Niro's exit, the cable network has brought in John Turturro…

Arts

"The Shape She Makes", an "extraordinary treat" at…

“The Shape She Makes” is a fascinating melding of theater and dance in a narrative that exposes human vulnerability in its purest form. Initially, the…

Television

TV watch list, Tuesday, April 22: 'Glee,' 'Agents…

'Glee' Rachel makes her Broadway debut in "Funny Girl." Remember when she was just a high school drama nerd? FOX, 8PM 'Marvel's Agents of S.H.I.E.L.D.'…

The Word

Lindsay Lohan's big, drunk interview

Lindsay Lohan appears to be completely off the wagon now, if Kode magazine's chronicle of her trip to Coachella is any indication. According to the…

MLB

MLB video highlights: Yankees rout Red Sox, 9-3

Jon Lester allows eight runs in 4 2/3 innings taking loss

MLB

MLB Power Rankings: Brewers best in baseball, Dodgers,…

MLB Power Rankings: Brewers best in baseball, Dodgers, Cardinals, Yankees surge. The A's, Braves, Rangers, Giants and Rockies are also in the top 10.

Sports

American runners stand tallest in 2014 Boston Marathon

American runners stand tallest in 2014 Boston Marathon

Sports

2014 Boston Marathon results: American Meb Keflezighi wins…

2014 Boston Marathon results: American Meb Keflezighi wins men's race

Wellbeing

How to burn off all that Easter candy

Sorry to be a buzzkill, but you can't eat chocolate eggs and Jelly Bellys forever.

Food

Powdered alcohol: 5 things to know about 'Palcohol'

What's the deal with powdered alcohol? Here's what you need to know about Palcohol.

Travel

Travel hacks: 6 tips on living out of…

Lynne Martin shares her travel hacks on living out of just two suitcases.

Wellbeing

Tough Mudder pro gives tips on conquering a…

Learn hacks from head designer Nolan Kombol.