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Newspaper
Roswell Daily Record
Location
Roswell, New Mexico, United States of America
Date
Jul 14, 2011
Page
3
Negotiations over raising the debt limit stall with a looming default and Moody's reviewing the U S bond rating for a possible downgrade. The Treasury projects a deficit above 1 trillion dollars for the third straight year as Republicans press for large spending cuts and oppose tax increases.
The article notes Moody’s Investors Service threatened to lower the United States credit rating amid concerns of rising default risk. Economists warn the credit system could tighten, with Bernanke saying a debt default would trigger a major crisis and potentially higher interest rates for ordinary Americans. He stressed Treasury securities’ safety and liquidity as central to the global financial system.
In a July hearing attorney Gomez questioned state's witness Christopher Glenn’s mental history after confirming Glenn’s bipolar disorder depression and schizophrenia. The court discussed a possible competency evaluation noting the state would not pay. A July 26 competency hearing was set.
Residents in Carlsbad, Ruidoso and Artesia wake up early for flights. Armstrong urges airline to add a midday Roswell LAX route, but no success yet. He may lobby other carriers. local leaders tout economic benefits from leisure travel, hotels, and Westward business expansion.
Esslinger warns the loan program to borrow New Mexico water credits would burden farmers with repayment next year. Across the state drought worsens, with 16 counties named natural disaster areas and irrigation districts scrambling as groundwater becomes essential amid sparse rainfall and looming monsoons.
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