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The United States has lost its final stable outlook from the three largest credit-rating companies after Fitch Ratings lowered its outlook to a negative U.S. credit rating. The credit rating agency recently announced it had lowered the outlook after a congressional debt committee failed to agree on deficit cuts last week.
Debt Committee Failure Lead to Poor U.S. Credit Rating Outlook 
Cyber Monday 2011 has become a popular option for shoppers who don’t want to hit Black Friday lines right after Thanksgiving dinner, but still want great deals. Thanksgiving weekend remains eventful thanks slashed deals on merchandise offered by retailers and merchants.
Today, buyers can receive a deep discount on an online deal, giving individuals a second chance at taking advantage of a missed online deal over the long weekend.
As Americans prepare to hit the road or make Thanksgiving dinner, they’re likely to find that getting the job done costs more than they may have anticipated. New data shows that both food cost and gas prices have increased for this year’s Thanksgiving festivities, but this fact has not deterred people from celebrating. However, more Americans may start closely monitoring a Thanksgiving budget to leverage rising food cost and gas prices.
Food Cost and Gas Prices Move Up
Just one day after Congress’ “super committee,” charged with addressing the national debt, announced it would fail to develop a $1.2 trillion debt reduction plan by Nov. 23, President Barack Obama announced his new focus, challenges Congress to preserve payroll tax cuts . The tax is set to expire at the end of the year, and if it does, the President suggests that the nation will lose one of its biggest economy boosters.
Failed Debt Reduction Plan Sends Congress Scrambling
The bipartisan debt committee created to find ways to reduce the national debt is expected to announce that it will not meet its goal by its Nov. 23 deadline. While details have not yet been released, many believe that the lawmakers simply have not been able to come to an agreement on enough hard-hitting issues to reduce national debt as intended.
Debt Committee Falls Short in Making $1.2 Trillion in Reductions
U.S. banks, like Citigroup and Bank of America to name a few, are facing credit downgrade ratings within three weeks, according to a new announcement from Standard & Poor’s (S&P). The ratings agency said that it is in the process of updating its credit ratings. As a result, up to 30 of the world’s biggest banks could see their ratings drop.
Nevada’s Attorney General announced on Thursday that two people have been indicted for allegedly being involved in a “massive” robo-signing mortgage scheme. A spokeswoman for Attorney General Catherine Masto said she believed the indictments will represent the first criminal charges filed in association with robo-signing, an illegal act of falsifying foreclosure documents.
Two Individuals Face Dozens of Robo-Signing Charges
New federal gas mileage rules were proposed Wednesday that are expected to add thousands of dollars to new car prices. However, regulators say in the long run the higher vehicle price tag will be offset by drivers paying less to fill up at the pump.
Proposal Aims for Average Gas Mileage of 54.5 MPG
The Environmental Protection Agency (EPA) announced that new rules have been proposed to increase the average gas mileage of vehicles to 54.5 miles per gallon by the 2025 model year.
A study to be released today is revealing what many already know: America’s middle class is shrinking, turning the nation into a two-tiered society of rich and poor. The middle income population has declined significantly since 1970, according to a study conducted by Stanford University. This income gap is not likely to change in the near future.
Middle Income Families Dropped by 21 Percent
Steep competition for top-tier credit card customers has prompted card companies to look elsewhere for business, says a new report from credit reporting agency TransUnion. Many companies have switched their focus to consumers with less-than-stellar credit scores.