Investors in Puerto Rico‘s debt-burdened economy still face risks of default on some of the island’s $70 billion in debt even after the U.S. Congress on Wednesday created a powerful federal oversight board to manage credit restructurings. U.S. President Barack Obama says he will quickly sign the Puerto Rico Oversight, Management, and Economic Stability Act (PROMESA) before the U.S. territory […]
Supporters hope to get it enacted into law before July 1, when Puerto Rico faces a deadline for making a $1.9 billion debt payment that it might not be able to fulfill.
With dozens of storefronts shuttered, bearing signs that read “se vende” — “for sale” — the marks of Puerto Rico’s ongoing debt crisis are made visible throughout the main city of Old San Juan. As the cash-strapped U.S. territory missed most of another debt payment earlier this month, it has had to contend with another crisis: namely, the Zika virus.
U.S. lawmakers on Thursday began coalescing around revised bipartisan legislation to help address Puerto Rico’s unpayable debt burden that now threatens a full-blown humanitarian crisis. Released close to midnight on Thursday, the House Natural Resources Committee’s revised bill includes a strong oversight board to direct how and when the island pays its bills and leaves […]
If his Muslim ban and a Mexican wall didn’t turn away Republicans still planning on voting for Donald Trump, maybe his ideas about the national debt will. The racist billionaire said recently that he would try to game the international economy — much like he did with creditors for his bankrupt casino projects — by paying less on U.S. treasury bonds than what bondholders are owed, a move that would surely destabilize the global economy.
Piling on new debt now could be costly, if the Federal Reserve continues to increase interest rates this year (which pushes up the rates on credit cards). So to help you get back into the black, consider these strategies.
It’s never advisable to rush out and take on debt, but there are times when doing so actually makes sense. Debt, it turns out, can be a kind of friend, even if it’s just that flaky friend who can’t really be trusted.
Department of Education officials said the administration backed away from a ratings system because it proved too complicated to develop and they were afraid it might confuse consumers.
Here are a few warning signs that indicate you are spending too much, followed by suggestions for getting your spending under control.
While fighting to keep Islamic State out of the country, the Iraqi government seeks to rebuild the country’s infrastructure, its quality of life, and relieve its $25 billion fiscal deficit.
By Sonia Avalos Buenos Aires (AFP) — Argentina blamed the United States Thursday for the legal battle that forced it into its second default in 13 years, accusing the judge and mediator in the case of “incompetence.” The country officially went into default Wednesday night after the failure of 11th-hour talks with two U.S. hedge […]
By Kevin G. Hall, McClatchy Washington Bureau WASHINGTON — Roughly one in three adult Americans has past-due debt that’s been turned over to a collections agency, according to a novel new study. Southern states fare worst in the study, with most having four in 10 residents with credit files that show debt in collection. The […]
But as much as Republicans say they care about the deficit, they are not willing to raise one dime in taxes to make a deal to cut it.