Now that Greece has been temporarily ‘saved’, the focus might start to shift to the unresolved and equally serious issue of the US debt limit. Unfortunately, the omens on this front still look gloomy, with President Obama yesterday chastising the Republicans for their lack of concern for children and the elderly in their negotiations over the deficit. The Democrats want tax increases to form part of the package to reduce America’s fiscal largesse, whereas the GOP is after meaningful cuts in entitlements and in Medicare payments to the elderly. The Republicans continue to argue that a bill which both lifts the debt ... (full story)